The United States and Europe are each other's largest trading partners, with the EU accounting for about 19% of U.S. exports and the U.S. accounting for about 13% of EU exports. The two regions trade in a wide variety of goods and services, including agricultural products, cars, machinery, chemicals, and financial services.
Investment
The United States and Europe are also each other's largest foreign direct investors. U.S. companies have invested over $1 trillion in Europe, while European companies have invested over $2 trillion in the United States. This investment has created jobs and helped to boost economic growth in both regions.
Tourism
The United States and Europe are also popular tourist destinations for each other's citizens. In 2019, over 14 million Europeans visited the United States, while over 3 million Americans visited Europe. Tourism is a major source of revenue for both regions.
Cultural exchange
The United States and Europe have a rich cultural exchange, which includes shared values such as democracy, human rights, and the rule of law. The two regions also cooperate on a wide range of global issues, such as climate change, terrorism, and the promotion of peace and security.
Technology
The United States and Europe are both leaders in technology, and they often collaborate on research and development projects. This cooperation has led to many important innovations, such as the internet and the global positioning system (GPS).
Education
The United States and Europe also have a strong tradition of academic cooperation. Many students from the United States study in Europe, and many European students study in the United States. This exchange of knowledge and ideas has helped to advance education and research in both regions.
