"Common values, overlapping interests, and shared goals are the foundation of what is often described as the transatlantic partnership between the United States and Europe. Many observers stress that in terms of security and prosperity the United States and Europe have grown increasingly interdependent. Both sides of the Atlantic face a common set of challenges, including economic concerns, terrorism, weapons proliferation, energy security, and the destabilizing effects of failing and rogue states. Both sides are proponents of democracy, open societies, human rights, and free markets. Supporters of close U.S.-European cooperation argue that neither the United States nor Europe can adequately address the wide array of global concerns alone, and that the track record shows the two sides can accomplish much more when they work together. The United States and Europe also share a huge and mutually beneficial trade and investment relationship. This report summarizes a selection of broad issues in which the transatlantic relationship and U.S.-European cooperation play an important role. A full survey of global issues that are important for U.S. and European interests would also include relations with countries such as China, India, and Turkey; concerns about stability in the Balkans and the countries of the former Soviet Union; the Middle East peace process; development assistance and humanitarian aid to the countries of Africa and elsewhere in the developing world; and many more."
CRS Report for Congress, RS22163