The challenge to Europe and the U.S. in the TTIP negotiations is not how to handle tariffs, but how to manage value-based differences involving roughly two equivalent powers. Transatlantic Cost of Values Values as a form of ethical construct are important for social cohesion. They can have a logical foundation but nonetheless be subjective. For example, the belief that capital punishment is or is not a rational response to abhorrent crime and a deterrent to future episodes varies by country or society. U.S. Trade Representative Michael Froman solicits support for TPP by asserting that America has “A values-driven trade policy.” In similar fashion, leaders in Brussels say they will defend European values, extending that to the recent requi...