Happy Monday. In what appears to be a big win for American companies with European customers, the EU just approved a new agreement with the U.S. that will allow Big Tech and many smaller firms to continue to export Europeans’ personal data to American shores.
This is a last-minute reprieve for Meta, which was facing the serious possibility of having to pull Facebook and Instagram out of the EU in October because all its possible legal arguments for exporting data to the U.S. had been shot down by the EU’s Court of Justice (CJEU) and privacy regulators. Now Meta and its peers have a legal basis to keep going in Europe without having to silo off their operations there.
