Following several years of tension between Europe and the United States, policymakers on both sides of the Atlantic have rediscovered pragmatism. Apparently irreconcilable differences of values are giving way to new forms of practical cooperation. However, the new transatlantic relationship differs from the old one in some very important ways. New issues that involve access ...

The Panama Papers—the massive collection of leaked documents from Mossack Fonseca, a Panamanian law firm that helps set up offshore shell corporations—have already had political consequences. Iceland’s prime minister, Sigmundur David Gunnlaugsson, resigned after the leak revealed that he had partly owned an offshore firm. David Cameron, the British prime minister, is facing criticism over ...