Us Commerce Secretary Raimundo said the United States is "seriously concerned" that the EU's digital market bill and digital services bill will unduly affect US-based technology companies and their ability to fully serve EU customers and defend security and privacy standards.

The United States encourages the European Union to listen to the concerns of stakeholders about these bills as it advances the legislative process.

Raimundo said via video link at the American Chamber of Commerce's Transatlantic Business work Summit.

Raimundo pointed out that the United States is aware that the European Union wants to use these bills to create a fair, transparent and secure digital space.

She said the Biden administration believes that finalizing an enhanced EU-US "privacy shield" is a top priority and that she is still actively involved in the negotiations.

Raimundo is optimistic that a lasting and legal "privacy shield" arrangement will be reached in the near future.