This chapter contextualizes the discussion of the transatlantic commercial relationship by examining some of the historical attempts to reach a trade agreement between Europe and the United States (US), as well as the non-economic reasons why these efforts ultimately failed. Although the European Union and the US have not struck a major trade deal, they still maintain the world’s most significant economic partnership. This strong relationship is underpinned by shared values, including democracy, the rule of law, similar consumer preferences, and cultural norms, as evidenced by surveys of Americans and Europeans. Businesses have truly benefited from the transatlantic economy, far more than headlines often suggest. We examine people’s views on trade and investments, and how citizens on both sides generally hold each other in high regard, despite some lingering misperceptions.