On March 25, President Biden and President von der Leyen announced that the EU and the US have found an agreement in principle on a new framework for transatlantic data flows. Striking the balance between the free flow of data and the protection of privacy remains critical to both companies and citizens.

The invalidation of the EU-US Privacy Shield caused uncertainty for thousands of businesses on both sides of the Atlantic engaging in data transfers. Over 5,000 small and large companies rely on the Privacy Shield to transfer personal data across the Atlantic.