This article starts by providing background for the recently announced EU-US Privacy Shield, beginning with the adoption of the European Union's 1995 Data Protection Directive that limited cross border ttransfers of personal data tou countries with "an adequate level of protection" of such data.  The resulting "Safe Harbor" negotiated between the EU and the U.S. in order to allow continuing data flows between the two blocs is described, together with the Schrems decision invalidating it, with the consequences for transatlantic data flows being highlighted.  The need for a "Safe Harbor 2.0," and details of the same, relabelled as the "Privacy Shield," are provided.  Finally, the current legal uncertainty surrounding the Privacy Shield and potential alternatives to it are evoked.