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Last week, the European Court of Justice released its much awaited decision in Data Protection Commissioner v Maximilian Schrems, commonly known as Schrems II, which addressed which privacy requirements governments and corporations within the European Union will be required to secure before participating in international data transfers. The court's decision casts serious doubt on many of the measures currently in place, most notably in relation to the United States's own national security and surveillance activities, and thus raises new questions about how the European Union would continue to interact with the global digital economy. To discuss these developments, Scott R. Anderson sat down with Peter Swire, professor of law and ethics at the Scheller College of Business at the Georgia Institute of Technology and himself a former privacy official in the Clinton and Obama administrations, and Stewart Baker, currently of counsel at Steptoe & Johnson and previously the assistant secretary for policy at the Department of Homeland Security during the George W. Bush administration.