Is the trans-Atlantic relationship over? Nathalie Tocci argues that it cannot be rebuilt as it was: The liberal order that birthed trans-Atlanticism is gone, and a fundamental breach of trust has occurred. Alexandra de Hoop Scheffer sees it differently: Trans-Atlanticism was never based only on values but also on security, economic, and technological interests. The relationship has now entered a period of geopolitical maturity, where the two sides will pick and choose areas of cooperation. The two European experts debate their takes.

Plus, Ravi shares his read on how renewed conflict in Iran hurts energy prices.

Alexandra Sharp: U.S.-Iran Talks May Continue, but the Cease-Fire Is Over

Rebecca F. Elliott and Lisa Friedman in the New York Times: China’s Next Move May Decide Whether Oil Prices Soar

Nathalie Tocci: The End of Trans-Atlanticism

Alexandra de Hoop Scheffer: Trans-Atlanticism Isn’t Dead—It’s Being Renegotiated

Luke McGee: Washington Shouldn’t Fear NATO Expansion

Dimitar Bechev: Contain, Consolidate, and Co-Opt

Learn more about your ad choices. Visit megaphone.fm/adchoices