(Bloomberg) -- European Union privacy watchdogs vowed to wait until they’ve seen details of a new trans-Atlantic data- transfer pact dubbed the “privacy shield” before carrying out a threat to probe workarounds used by thousands of companies.

The EU and U.S. raced to reach a new deal on data transfers by Tuesday before the so-called Article 29 Working Party of EU privacy watchdogs threatened to impose tight restrictions on other tools if the deadline wasn’t met.

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