On October 6, 2015, the European Court of Justice (CJEU) invalidated the Safe Harbor framework between the United States and the European Union, putting at risk the legality of trans-Atlantic data transfers. Businesses and policy makers questioned how-and whether-"Safe Harbor 2.0" would be successfully negotiated. This article discusses the new framework known as the EU-U.S. Privacy Shield (the "Privacy Shield"), which was announced on February 2, 2016.