"Due to extensive cooperation on a wide range of issues, the relationship between the United States and Europe is often called the transatlantic partnership. In many areas, the two sides share common values and overlapping interests, and have grown increasingly interdependent in terms of security and prosperity. The majority of Europeans warmly welcomed President Barack Obama to office, and his popularity suggested opportunities for the United States and Europe to address the common set of global challenges they face. In dealing with this difficult agenda, however, observers note that the constructive tone of the relationship does not necessarily translate into tangible foreign policy results. Overall, transatlantic cooperation is strong on many key issues, but some concerns and points of tension also persist. As the United States and Europe deal with changing geopolitical realities, some new anxieties are surfacing about the future of the transatlantic partnership."
CRS Report for Congress, RS22163
U.S. Dept. of State, Foreign Press Centers: http://www.fpc.state.gov/