d liberalization worldwide, meet global challenges such as terrorism and environmental degradation, and to build stronger non-governmental links between the people of Europe and the United States. Thus, the New Transatlantic Agenda launched an era of cooperation on a wide range of political and economic issues. This led in 1998 to a further deepening of the framework for economic relations, when the London Summit of May 1998 launched the Transatlantic Economic Partnership. I would now like to raise the question " why is the US so keen on its relationship with the European Union, why is there a great deal of involvement and cooperation between them? I think the answer to this question goes back to the fact stated in the beginning: the European Union is a potential threat, competitor or partner to the US. By keeping a strong relationship with the European Union, the US is trying to eliminate the threat and competition and strengthen the partnership. The creation of a single European market has boosted cross-border business, creating economies of scale, increasing Europe's competitiveness and leverage on world markets, and providing new opportunities for US exporters and investors. Nowadays, the European Union and the United States are the two largest economies in the world. They account together for about half the entire world economy. They also have the biggest bilateral trading and investment relationship. Both realized that by working together, they could promote their common goals and interests in the world much more effectively. Although, the EU and US have a strong and long-standing economic relationship, it is only more recently that the EU as such has emerged as a potential partner in foreign policy for the US. Because of the EU's importance as an international donor and, in particular since the entry into force of the Maastricht Treaty on European Union, and its increasingly influential role in international diplomacy, the EU-U...
