The biggest beneficiaries of the data economy are not tech companies, but the thousands of firms in other industries—including retail, banking, mining, and manufacturing—that rely on data to conduct their global operations. Unfortunately, many countries are embracing protectionist policies that restrict data across their borders. In so doing, they are hampering their own domestic companies’ ability to engage in data-driven innovation.
This event featured the release of an ITIF report which explores how companies in traditional industries are gaining the benefits that cross-border data flows bring and recommends a strategy to address the protectionist policies that some countries have begun introducing. The event will feature a panel discussion to explore how the United States and like-minded countries can take a lead role in establishing trade policies that promote digital free trade by allowing companies to easily share data across borders.
