Don’t look now, but for all the buzz about the Obama administration’s “pivot” to Asia and the Trans-Pacific Partnership, momentum is building on both sides of the Atlantic for a U.S.-EU free trade agreement that could be at least as consequential in shaping the world order. In fact, considering the messy geopolitical landscape with few opportunities and no shortage of challenges, a successful new U.S.-EU accord could well end up as the signature foreign-policy achievement of Obama 2.0.