Complex sentence: In 2007, a Transatlantic Economic Council was established to direct economic cooperation between the two, it is headed by the US Deputy National Security Advisor for International Economic Affairs and the EU's Commissioner for Trade.
Split into simpler sentences: In 2007, a Transatlantic Economic Council was established to direct economic cooperation between the two. It is headed by the US Deputy National Security Advisor for International Economic Affairs and the EU's Commissioner for Trade.