After coming to power，US President Barack Obama implemented a “New Deal” in its foreign policy instead of the unilateral practices during the Bush years，which rejuvenated the EU-US relations. Obama’s new approaches were popular with its Atlantic partners who responded with positive reactions and some kind of coordination. Therefore，the division between the two sides was narrowed and dialogues on politics，security and economy were strengthened. The driving force behind the changing EU-US relations is mainly the rapid and profound transformation of the international political situation. On the one hand，the relative decline of the US is one of the most visible phenomena in the world power pattern，while on the other hand，the emerging economies are rising in a rapid rate and meanwhile，the EU is gaining power. All the above factors put together have brought about changes in world power pattern and readjustment of the EU-US relations. At the same time，increasing competition has become obvious across the Atlantic on how to address the economic crisis and to enhance global financial supervision.