“The United States shares the values of rule of law and protection of our democracies with our partners in the European Union (EU). Therefore, we are deeply disappointed that the Court of Justice of the European Union (ECJ) has invalidated the EU-U.S. Privacy Shield framework,” said U.S. Secretary of State Mike Pompeo.

“The United States and the EU have a shared interest in protecting individual privacy and ensuring the continuity of commercial data transfers. Uninterrupted data flows are essential to economic growth and innovation, for companies of all sizes and in every sector, which is particularly crucial now as both our economies recover from the effects of the COVID-19 pandemic.”

“This decision directly impacts both European companies doing business in the United States as well as American companies, of which over 70 percent are small and medium enterprises.”

“The United States will continue to work closely with the EU to find a mechanism to enable the essential unimpeded commercial transfer of data from the EU to the United States”

Read the full statement from the State Department.