Transatlantic economic relations are a less widely studied part of the broader subject of transatlantic relations. Depending on the political agenda, the focus of attention in the relationship between the United States (US) and Europe shifts between policy fields. Since the 9/11 attacks on the Twin Towers in New York, differences between the responses of the US and the European Union (EU)2 to the new global security situation and the related ‘Global War on Terrorism’ have been most prominent and have diverted attention from other policy fields. Therefore widely unnoticed, transatlantic economic cooperation – a process that started in the early 1990s – has evolved resulting in the signing of a new agreement – the ‘Framework for Advancing Transatlantic Economic Integration’ (FATEI) – in April 2007.