Big Tech Blackout Set to Be Averted With EU-U.S. Data Pact (2)

The European Union and U.S. broke the deadlock on a new data-transfer pact, potentially avoiding a doomsday scenario for tech giants such as Meta Platforms Inc. and thousands of other firms that rely on free flows of information across the Atlantic.

The EU and U.S. said Friday they agreed in principle to a new accord after a previous arrangement was struck down due to concerns over the power of American agencies to snoop on the information without adequate privacy safeguards.

This new pact will “enable predictable and trustworthy data flows, balancing security, the right to privacy and data protection,” European ...