(Bloomberg) -- New York Democratic Senator Chuck Schumer said he is concerned that European negotiators working to replace a trans-Atlantic data-sharing pact may be trying to bar U.S. technology companies from operating in Europe.

Negotiators from the U.S. and the European Union are racing to meet a Jan. 31 deadline to find a replacement for the Safe Harbor agreement that permits user data from companies like Facebook Inc. to be transferred to the U.S. The Safe Harbor pact was struck down last year by the EU’s highest court.

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