As a membership organization, AmCham Germany aims to support unrestricted trade and investment between the US and Germany and promote an open business climate for its members. To a great extent, these partnership goals hinge upon the uninterrupted transfer of data. The American Chamber of Commerce in Germany (AmCham Germany) recognizes that the validity of the standard contractual clauses (SCCs) has been upheld by the Court of Justice of the European Union (CJEU). These SCCs allow unrestrained exchange of data between the U.S. and EU consumers while still providing privacy safeguards for EU citizens.
However, AmCham Germany is concerned regarding the crucial CJEU’s decision to invalidate the EU-U.S. Privacy Shield mechanism and the uncertain environment it fosters for stakeholders. There are thousands of Privacy Shield-certified companies which entail other additional networks that indirectly rely upon this legal mechanism, especially small and medium-sized businesses. The decision impacts the transatlantic economic partnership and inhibits a range of services provided by companies in many sectors.
As Germany currently holds the presidency of the Council of the European Union, AmCham Germany would like to call for a secure and stable mechanism regarding data transfer between the EU and the U.S. AmCham Germany would like to underline the necessity of a legal process that provides safeguards to consumers and ensures free flow of information to expand the potential of trade across the Atlantic and leadership in the global economy.