05:06 GMT05 August 2020
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    The EU-US Privacy Shield agreement will spur growth in digital trade by protecting privacy for businesses on both sides of the Atlantic, US Secretary of Commerce Penny Pritzker said in a statement on Tuesday.

    WASHINGTON (Sputnik) — Earlier on Tuesday, the European Commissioner for Justice confirmed that Brussels has reached an agreement with Washington on data transfers, which will reportedly ensure legal certainty for businesses concerned about privacy issues.

    “[EU-US Privacy Shield] provides certainty that will help grow the digital economy by ensuring that thousands of European and American businesses, and millions of individuals, can continue to access services online,” Pritzker stated.

    Pritzker added the agreement is a "major achievement for privacy," and it underscores the strength of the relationship between the United States and European Union.

    The agreement, "EU-US Privacy Shield," replaces the 2000 EU-US Safe Harbor agreement, which the European Court of Justice invalidated in October 2015 because it was deemed to provide inadequate personal data protection.

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