Showing How Isolationism Effects [ sic ] Long-term Development Act or the SHIELD Act This bill requires the Department of Commerce and the Federal Trade Commission (FTC) to study and report on electronic commerce, including data sharing and data flow, and its impact on the U.S. economy. Such study shall involve a review of (1) the economic benefit of the free transfer of data, (2) the impact of digital trade barriers on the U.S. economy and business development, and (3) the beneficial impacts of data agreements on commerce. Commerce and the FTC must also establish and maintain a compendium of data localization regulations. Commerce and the FTC must report to Congress the results of such study and any recommendations to promote U.S. economic activity through electronic commerce.