The failure to conclude a US-EU free trade deal was a strategic error. The environment in Europe was never going to be easy; the US and the EU committed multiple errors of communication and strategy. It is highly unlikely that any significant transatlantic free trade deal can be struck during the Trump administration. While it is also highly unlikely that a future administration can simply restart negotiations where they left off under the Obama administration, there are many valuable lessons to be learned from the TTIP failure. Both sides need greater realism about what can be achieved. Rather than attacking the EU and undermining the international rules-based trading order, the US should be working more intensively with the EU to reform the WTO and address the challenges that China poses. Shunning multilateralism for bilateral trade deals and unilateral trade sanctions (even on allies) harms US interests over the longer term.