In May of this year, The European Commission (EC) will issue an expansive set of privacy rules for U.S. companies operating overseas. These rules, otherwise called The General Data Protection Regulation (GDPR), will require companies across the world to amend their policies and practices to comply with its many regulations. In many ways, the GDPR will become the baseline privacy regime for the Internet. According to PwC, over half of U.S. multinational companies say the GDPR is their top data privacy compliance priority.
But many U.S. policymakers view this new regulation as burdensome and costly, while others view it as a positive step towards a global privacy regime for the Internet. How will the GDPR affect the Privacy Shield and other international agreements with our International partners? This briefing focuses on what the GDPR means for U.S. businesses and the worldwide flow of citizens’ information.