Transatlantic Free Trade Agreement – still alive or dead concept in the EU-US relations?

The paper examines current issues considered in the debate of creating a free trade area between the EU and the USA, as well as major obstacles to reach such agreement. The concept of the Transatlantic Free Trade Agreement was discussed during the 90s, but other contributions to this topic have occurred since then, dealing with costs and benefits of this concept. In this context, the paper discusses whether the global development and the political will on both sides of the Atlantic could move this issue further. The recent economic crisis will certainly influence the orientation of both the EU and the USA in solving their economic issues and promoting their own interests. In conclusion, the paper argues that the deepening of the transatlantic economic relations is a long-term process, which highly depends not only on the global economic, but also political events and conditions.