The start of the Obama administration offers an opportunity to rebuild the US–NATO transatlantic link on the foundation of shared values during the Cold War and the immediate post–9/11 response. Use of military power is not sufficient, and torture should never again be condoned. Europe and the United States should take the lead in drafting new rules for the global economic order. A renewed NATO is also needed, as is a better relationship with Russia. NATO's eastward expansion to include Georgia and Ukraine makes sense in the long term but should not be pressed now.