The European Commissioner for Justice, Consumers and Gender Equality, Věra Jourová, and the U.S. Secretary of Commerce, Wilbur Ross, issued a joint statement following the Second Annual EU-U.S. Privacy Shield Review, declaring the following:

• Since its inception in 2016, nearly 4,000 companies have made legally enforceable commitments to comply with the Privacy Shield framework; 
• The significant growth of the program last year highlights the Privacy Shield's vital importance to transatlantic data protection and commerce; 
• In the wake of recent privacy incidents involving the personal data of Europeans and Americans, the U.S. and EU reaffirm the need for strong privacy enforcement to protect citizens and ensure trust in the digital economy;
• The Commerce Department will revoke the certification of companies that do not comply with Privacy Shield's vigorous data protection requirements. 

CLICK HERE to read the joint statement.