U.S. Secretary of Commerce Penny Pritzker issued the following statement on today’s launch of the self-certification process for U.S. organizations participating in the EU-U.S. Privacy Shield Framework (Privacy Shield).
“After more than two years of discussions, it is time to implement the new EU-U.S. Privacy Shield Framework with our partners in Europe and companies on both continents. With the Privacy Shield in place, businesses will be able to protect privacy and truly seize the opportunities offered by the transatlantic digital economy. More than $260 billion in digital services trade is already conducted across the Atlantic Ocean annually, but there is significant potential for this figure to grow, resulting in a stronger economy and job creation. The Privacy Shield opens a new era in data privacy that will deliver concrete and practical results for our citizens and businesses.”
The Privacy Shield is a collaborative effort by the U.S. Department of Commerce and European Commission to provide both EU and U.S. companies with a mechanism to comply with EU data protection requirements when transferring personal data from the European Union to the United States in support of transatlantic commerce.
To learn more about the Privacy Shield and to self-certify, visit https://www.privacyshield.gov.
Compliments of the US Department of Commerce