The two top U.S. lawmakers for trade policy are fighting for better treatment for financial services firms in a landmark Asia-Pacific free-trade agreement that would clear barriers to digital trade.
Representative Pat Tiberi, R-Ohio, and Charles Rangel, D-New York, raised concerns that financial firms in the 12 countries in the Trans-Pacific Partnership, which includes the U.S., would have to store customer data wherever they’re doing business, a practice known as forced localization.
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