Lew Distinguishes Between Data Localization Fix In TPP, Future Trade Deals

U.S. Treasury Secretary Jack Lew signaled to a House committee that future trade deals could take a different stance on data localization requirements for financial services firms than the Trans-Pacific Partnership (TPP), which he said cannot be changed since the deal has been signed. But he held open the possibility of a side agreement to the TPP, though he emphasized that it would be difficult to do. "We're looking to see if there is something, particularly going forward, that would...