"Since the end of the Second World War, successive U.S. Administrations and many Members of Congress have supported a close U.S. partnership with Europe. Often termed the 'transatlantic relationship', the U.S.-European partnership encompasses NATO, the European Union (EU), and extensive bilateral political and economic ties. Over the past 70 years, political tensions, trade disputes, and changes in the security landscape have tested U.S.-European relations. Despite periodic difficulties, U.S. and European policymakers have valued the transatlantic partnership as serving their respective geostrategic and economic interests."
CRS In Focus, IF11094
Congressional Research Service: https://crsreports.congress.gov/