4 ms·
> These laws and regulations predate most of the service sector I'm not sure why you would think this is true at all. The EU has had a trade in services defici
by AmericanChopper 6y ago
> These laws and regulations predate most of the service sector
I'm not sure why you would think this is true at all. The EU has had a trade in services deficit with the US for a very long time (especially in financial and ICT services). The GDPR has only adopted 4 years ago. Even if it was enforced equally across all companies, it would still be a protectionist policy. However, it most certainly is not, having dished out about €12 million in fines to EU companies (not counting UK), about €200 million in fines to UK companies, about €160 million in fines to US companies and a total of €88,000 in fines to companies from all other countries.
This recent ruling simply adds another layer of protectionism to the regulations. The risks associated with US companies are prohibited by regulation. Those very same risks when associated with EU companies are perfectly legal. Not because the risks aren't as serious (they are exactly the same in every way), the only difference is where the company/commerce is located.