The transatlantic relationship will irreversibly change in the coming decade due to a series of converging trends. Europe and the United States must adapt to a new reality, one in which the geopolitical center of gravity has moved from the Atlantic to the Pacific. The HCSS Initiative on the Future of Transatlantic Relations, with its Program 2021-2030: Transatlantic Relations in the Age of Sino-American Competition, aims to ensure that both sides continue to enjoy the benefits of the shared interests and values on which the transatlantic relationship is based. Facilitating a smarter and more equitable distribution of the current benefits and burdens will be an important goal for both sides. The initiative looks to put the transatlantic relationship on a new footing, one that is based on the reality of today, not nostalgia for an earlier era.