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The U.S. Department of Commerce and the International Trade Administration’s Privacy Shield Team made an important announcement today about the future of the regarding the EU-U.S. Privacy Shield Framework.
The joint statement was issued by U.S. Secretary of Commerce Wilbur Ross and by Justice Didier Reynders, the European Commissioner. The joint statement states:
"The U.S. Department of Commerce and the European Commission have initiated discussions to evaluate the potential for an enhanced EU-U.S. Privacy Shield framework to comply with the July 16 judgment of the Court of Justice of the European Union in the Schrems II case. This judgment declared that this framework is no longer a valid mechanism to transfer personal data from the European Union to the United States.
The European Union and the United States recognize the vital importance of data protection and the significance of cross-border data transfers to our citizens and economies. We share a commitment to privacy and the rule of law, and to further deepening our economic relationship, and have collaborated on these matters for several decades.
As we face new challenges together, including the recovery of the global economy after the COVID-19 pandemic, our partnership will strengthen data protection and promote greater prosperity for our nearly 800 million citizens on both sides of the Atlantic."