WASHINGTON– July 19 2024 –The GDA welcomes the first annual review, jointly conducted by European Commissioner for Justice Didier Reynders and US Secretary of Commerce Gina Raimondo, of the US-EU Data Privacy Framework (DPF). The review reflects bilateral US and EU commitments to high standards of data privacy and as well as a shared recognition of the importance of the cross-border access and exchange of knowledge, ideas, and information.
The DPF supports cross-border data transfers and access to information that underpins more than 1 trillion dollars in EU-U.S. trade and investment. According to the Commerce Department, since “the DPF’s implementation in July 2023, more than 2,800 enterprises have joined the framework, 70 percent of which are small and medium-sized businesses.”
As reflected in the Global Industry Statement in Support of a Trans-Atlantic Data Privacy Framework, the DPF enjoys strong industry support from across all sectors of the US and EU economies, reflecting the critical role that cross-border data transfers play in promoting shared US-EU cybersecurity, data security & national security; innovation and technology leadership; and employment, growth and exports. The EU-US trading relationship supports 8 million jobs and accounts for 42% of world trade. EU-US cross-border trade in digital services—such as telecoms and business services—has grown by 100% since 2006, twice as fast as EU-US trade in goods. These statistics reflect the close US-EU alliance and the highly integrated nature of the Trans-Atlantic economy.
The US and EU Joint Statement also notes that, “the DPF first review provides an opportunity to verify that the different elements of the framework are in place and function effectively. The review covers all aspects of the framework, from compliance by companies with its privacy requirements and the enforcement of those protections, to the functioning of the Data Protection Review Court before which individuals in the EU/European Economic Area can obtain redress with respect to U.S. signals intelligence activities. In addition, it allows both sides to discuss legal developments relevant to the DPF in the area of privacy and government access to data.”
The European Commission is expected to publish a comprehensive report on the review’s findings later this year.