G7 nations reach agreement on digital trade and data

22/10/2021 | Reuters

In a meeting in London on Friday, trade ministers from the G7 nations agreed on a set of principles to govern cross-border data use and digital trade. The deal is a compromise between Europes highly regulated data protection regimes and the open approach of the United States. As a first step in reducing digital trade barriers, the deal could lead to a common rulebook. The principles included open digital markets; cross border data flows; safeguards for workers, consumers, and businesses; digital trading systems; and fair and inclusive global governance.

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