Dave Grimaldi, Executive Vice President of Public Policy at the Interactive Advertising Bureau (IAB), today issued the following statement in response to U.S. Secretary of Commerce Wilbur Ross’s remarks on the need for additional guidance on GDPR implementation.
“The Interactive Advertising Bureau applauds Secretary Ross’s leadership in demanding clearer guidance from EU authorities on how to comply with the General Data Protection Regulation. The U.S. and EU are among the world’s most vibrant digital advertising marketplaces, together representing $124 billion in annual revenue, or nearly 50% of the global industry. GDPR has threatened the continued growth of this vibrant industry, and the millions of jobs it supports, by instituting unclear obligations backed by severe penalties on businesses globally. In response, many U.S. businesses, including numerous IAB members, have been forced to shut down their services in Europe until additional guidance is available. This has hurt both U.S. businesses and the EU consumers they serve. We welcome the opportunity to work with the U.S. and EU governments to ensure that the advertising-supported internet remains a global force for innovation and economic growth while providing strong protections for personal data.”