AmCham Romania co-signs a joint letter with the U.S. Chamber and peer organizations in the AmCham network on the Court of Justice of the European Union (“CJEU”) decision striking down the EU-U.S. Privacy Shield, a vital legal mechanism used to transfer data between the U.S. and the EU, upon which small and medium sized businesses rely heavily.
The effects of Thursday’s decision reach far beyond the more than 5,300 Privacy Shield-certified companies. Indeed, Privacy Shield certified companies have suppliers of goods and services, comprising a network of tens of thousands of additional companies, all of which indirectly rely upon Privacy Shield. The decision also comes at a particularly precarious time for American businesses, as the COVID-19 pandemic has led many to use remote services and rely on the ability to move data across the globe.
We strongly encourage you and your colleagues in the Administration to work collaboratively with your EU counterparts to develop a stable and sustainable mechanism for companies to transfer data between the European Union and the United States.