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The U.S.-EU relationship is built on a foundation formed by our shared values, including democratic governance, fair competition based on market principles, the rule of law, respect for human rights, and inclusive growth. Together, the United States and the EU account for a quarter of global trade and almost half of global GDP. Our deep economic relationship is a tremendous driver of economic prosperity for citizens on both sides. U.S.-EU two-way trade in goods and services amounted to $1.1 trillion in 2019.