LONDON (AP) - The European Union and the United States are hurtling towards a deadline on reaching a new agreement over trans-Atlantic data sharing.

LONDON (AP) The European Union and the United States are hurtling towards a deadline on reaching a new agreement over trans-Atlantic data sharing.

The two sides have been trying to forge an agreement by Jan. 31 after Europe's top court struck down the previous pact in October due to concerns over the rights of Europeans' data stored in the U.S. and their potential exposure to surveillance from U.S. intelligence agencies.

Christian Wigand, a spokesman at the European Commission, said Friday "intense" negotiations were ongoing and had been "constructive." However, he warned there wouldn't be an agreement at any price.

Last October, the European Court of Justice declared the so-called "Safe Harbor" pact was invalid because of the spying revelations made by Edward Snowden, a former contractor at the U.S.'s National Security Agency.