After two years of intense discussions between the U.S. and the European Union about how to address the challenges presented by the Schrems II decision, President Biden signed an Executive Order on Enhancing Safeguards for United States Signals Intelligence Activities (EO) implementing the long-awaited E.U.-U.S. Data Privacy Framework (Framework) and clearing a path for transatlantic business. The German state of Baden-Wuerttemberg data protection authority was the first (and only as of this writing) to officially comment on the EO, expressing concerns about whether the EO could be a sufficient basis for a new adequacy decision for E.U.-U.S. data transfers. With insights from Hogan Lovells, IAPP, U.S. Department of Commerce’s International Trade Administration Director and the former Chief of the Office of Civil Liberties within the Office of the Director of National Intelligence, we summarize key components of the EO and the new Framework, discuss next procedural steps and provide advice for companies. See “U.S., E.U. Announce Trans-Atlantic Data Privacy Framework: What Companies Can Do Now” (Apr. 13, 2022).