Points of Convergence: Economic Relations

with the European member states and provides security for some of Europe’s more vulnerable

constituents.11 Additionally, the U.S., NATO, and the EU share a common interest to promote the

spread of democracy throughout the world.

The United States has also maintained a healthy relationship with Europe through a

close partnership with the European Union. The main objective of the European Union is “to

promote peace, follow the EU’s values and improve the wellbeing of nations.”12 Climate change

and international security, highlighted by the surge in terrorism in the 21st century, are among

the most crucial areas of European and American cooperation. President Trump’s decision to

withdraw from the Paris Climate Agreement was widely condemned by major European powers

and created a policy chasm between the two entities, one which must now be faced by a new

president. The longstanding commitment to international partnerships will presumably allow

Europe and the United States to begin to repair the relationship that was strained by the former

administration’s “America First” agenda.

The United States and the European Union possess the two largest economies in the

world, boasting a nominal GDP of $21.4 trillion and $15.6 trillion, respectively, approximately three-sevenths of the total global economy as of January 2020.13 The majority of European

nations cite the United States as their largest non-EU trading partner, a relationship that must

be maintained for mutual economic expansion to continue. This necessity is made more evident

by the recent economic downturn caused by the coronavirus pandemic. Moving forward, any

relationship between the United States and the European Union must provide economic stability

at least and prosperity at best for two of the world’s largest trading markets.

Despite dissimilar views of the Iraq War, longstanding institutional and organizational cooperation between the U.S. and Europe have fostered strong relations and unity on several

international fronts. The Trump presidency, however, ushered in a new era of uncertainty for the

European-American relationship, and while the research conducted indicates a welcome change