The parent company of Facebook and Instagram, Meta, threatened to stop its European operations if EU regulators did not allow the company to share users' personal data with the United States.
The move was related to a decision by the Court of Justice of the European Union, (Shrems II case), which declared the data sharing (Privacy Shield) between the EU and the US no longer legal.
On October 7, 2022, US President Joe Biden unveiled the new data protection agreement with the European Union, referred to as “Privacy Shield 2.0”, through an executive order.
The new agreement aims to clear the legal path for data sharing between EU and US providers.
The executive order specifies the commitments that his country intends to implement in the agreement EU-US Data Privacy Framework – DPF to protect European users.
The US hopes to remedy a legal problem through the aforementioned Executive Order (EU-US Data Privacy Framework – DPF) which restores a mechanism for transferring data under EU law to US companies – where, primarily, the business interests of large providers US technology and cloud were at risk due to GDPR.
It also aims to create greater legal certainty for companies using standard contractual clauses and binding corporate rules to transfer personal data from the EU to the United States.
