As part of the new agreement — known as the E.U.-U.S. Privacy Shield — companies will face stricter rules over how they move people’s digital data from the European Union to the United States. American officials have also agreed to new limits on the powers of the country’s intelligence agencies to gain access to Europeans’ online information when it is transferred to the United States.
Source: E.U. and U.S. Release Details on Trans-Atlantic Data Transfer Deal – The New York Times