EU spying backlash threatens billions in US trade

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http://www.adn.com/2013/10/30/3149777/eu-spying-backlash-threatens-billions.html



FILE - In this June 19, 2013, file photo, President Barack Obama, left, and German Chancellor Angela Merkel, right, arrive for a news conference at the chancellery in Berlin. Reports based on leaks from former NSA systems analyst Edward Snowden suggest the U.S. has monitored the telephone communications of 35 foreign leaders. The fact that Merkel was among them has been particularly troubling to many in Europe and on Capitol Hill, given her status as a senior stateswoman, the leader of Europe’s strongest economy, and a key American ally on global economics, Iranian nuclear negotiations and the Afghanistan war.

EU spying backlash threatens billions in US trade
By JUERGEN BAETZ — Associated Press
Published: October 30, 2013 Updated 26 minutes ago

BRUSSELS — The backlash in Europe over U.S. spying is threatening an agreement that generates tens of billions of dollars in trans-Atlantic business every year — and negotiations on another pact worth many times more.

A growing number of European officials are calling for the suspension of the "Safe Harbor" agreement that lets U.S. companies process commercial and personal data — sales, emails, photos — from customers in Europe. This little-known but vital deal allows more than 4,200 American companies to do business in Europe, including Internet giants like Apple, Google, Facebook and Amazon.

Revelations of the extent of U.S. spying on its European allies is also threatening to undermine one of President Barack Obama's top trans-Atlantic goals: a sweeping free-trade agreement that would add an estimated $138 billion (100 billion euros) a year to each economy's gross domestic product.

Top EU officials say the trust needed for the negotiations has been shattered.


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Perhaps someone will listen when corporations start to complain.