US and European Senior Officials failed to reach an agreement on financial information, social media and other digital information can be transferred between the two regions. The two sides had opposing views on many specific details to reach a proper deal.
The deal would help US-based tech firms such as Google, Facebook and other tech companies avoid legal troubles in the EU.
The transfer of vital online business financial information has been a big issue for most European businesses. Google’s long-running case with Europe involved the use of information that favoured certain businesses, according to European officials.
Non-tech companies, such as GE, move data related to customers and employees and how well their products are used.
According to Global Head Of Privacy And Data Protection In Linklaters law firm Tanguy Van Overstraeten, many uncertainties are happening and a solution is needed.
American officials proposed the creation of a Data Ombudsman within the State Department. The office would give Europeans a direct contact point with the United States should information have been mismanaged. Europeans are also advised to seek arbitration with American companies should digital information be perceived as misused.
However, officials from Europe said the moves wouldn’t hold up should it be challenged in European courts.
Europeans also want more information on American limits to intelligence agency intelligence gathering and methods to allow Europeans to file legal claims to US tech companies or any firm that had misused their data.
