The government said it has made “significant progress” in securing a new tech and data partnership with the US.
It comes as Digital Secretary Michelle Donelan met with US Secretary of Commerce Gina Raimondo earlier today to work on a new data adequacy agreement in the coming weeks.
Data adequacy agreements allow personal data to be transferred freely from the UK to countries with high protection standards.
Currently organisations transferring personal data from the UK to the US have to use costly and time-consuming transfer tools, such as international data transfer agreements, which slow down data flows and create administrative burdens.
Reducing barriers to data flows makes it easier for businesses to trade and grow in international markets and brings benefits for consumers such as better access to higher-quality products and lower prices.
Exports of British data-enabled services to the US, like finance and computer services, were estimated to be worth more than £69bn in 2020 and are set to grow once expensive and time-consuming transfer mechanisms are removed.
The Digital Secretary welcomed the publication of the Executive Order, signed by President Biden this afternoon, which strengthens the safeguards and establishes new redress routes for UK data processed by US authorities.
“The United States shares our democratic values, digital priorities and commitment to high standards of data privacy,” Donelan said.
“Data and tech are creating new opportunities for growth and connection between our two countries, including between our world-leading tech industries.
The EU wide order sets out how Washington will implement America’s commitments under the EU-US data privacy framework, which includes a mechanism for citizens in the EU to seek redress if they believe their data is used unlawfully by intelligence agencies.