America has voted. On the topic of the 59th US presidential election, eco Chair of the Board Oliver Süme says:
“For many decades, the relationship between the USA and Germany has been characterised by intensive economic and social interaction. This transatlantic relationship must be reactivated and strengthened over the next four years. Not least the digital economy has impressively demonstrated that the world as we know it is a digitally interconnected world and that the interdependencies are fruitful and intense. With this in mind, the economy needs reliable political decision-makers and clear democratic conditions.”
At the same time, the Association of the Internet Industry stresses that the fortification of transatlantic relations is a key challenge for the future. This must now be tackled jointly on both the American and European sides: “We hope for a rapid restructuring of the US administration and that necessary reforms will be initiated as quickly as possible so that the economy can be provided with a reliable framework. America must once again become a reliable counterpart and economic partner in the international community of states.”
It was only in July that the European Court of Justice overturned Privacy Shield, the data transfer agreement between the EU and the USA. The resulting legal uncertainty represents a serious problem for the European economy, which is closely linked to the US. “In transatlantic relations, a viable solution must be found speedily for the exchange of personal data. This has an impact on international business models on both sides of the Atlantic. We therefore need – without delay – viable and long-term solutions for data transfer with the USA, to finally create lasting legal security for companies,” says Süme.