President Joe Biden just signed an executive order to protect the privacy of personal data transferred between the EU and the US.
Kind of a big deal: A number of European countries have banned tools like Google Analytics for transferring user data to the US, and fined companies for not complying with GDPR.
The new Privacy Shield Framework—already celebrated by Interactive Advertising Bureau—should “create new protections” for personal data, while clarifying the rules around international data transfers.
What happens next: The Privacy Shield Framework has to be reviewed and ratified by the European Commission, so full implementation won’t happen for a few months.
Why we care: Wait time aside, the new framework seems promising for brands and companies trading products and services overseas.
Clearer rules around user data could reduce legal fog for marketers, while safely and securely maintaining the estimated $7.1T in trade between the US and the EU.
At least, that’s the hope.
