If you haven't ever heard of Privacy Shield, it's an agreement between the US and the EU. It allows companies that store personal data of people who reside in the EU (such as Facebook) on servers in the US, all while adhering to European standards for privacy protection. It replaced Safe Harbor last year, and the EU has been keeping an eye on it since mid-2016. Now, the first review of Privacy Shield has taken place. Despite behind-the-scenes dissatisfaction, both EU and US officials have stated their support for the framework in a joint statement. They also hope to further improve the agreement based on what the review found.