In a January 12 letter to senior administration officials,
several House Representatives challenged the Trans-Pacific
Partnership ("TPP") trade pact's provision that
excludes financial services from commitments on cross-border data
flows and data localization. According to the letter, the exclusion
is a "missed opportunity" to prohibit the increasingly
prevalent localization requirements that impair American
companies' competitiveness, reduce overall data security, and
create inefficiencies. The TPP was signed in February but has not
yet been ratified by Congress.
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