By John Kell and Alan Murray
May 12, 2015

The Senate is scheduled to begin debate on trade promotion authority today. It’s hard to overstate what’s at stake. The outcome will be a critical test of President Obama’s ability to influence his own party, the business community’s ability to sway events in Washington, and most importantly, America’s ability to play a leadership role in world affairs. If the U.S. can’t deliver on a trade deal it has spent nearly a decade negotiating with Pacific rim nations, its hope of being an effective counterweight to China in Asian affairs will be greatly diminished.


Right now, prospects are cloudy. Democratic leader Harry Reid seems determined to end his career with a destructive blocking action in the Senate, while House Democrats remain far short of the 30-plus votes they need to give the President a win. Recent history would suggest you can’t go wrong betting against success. But at least one well-connected business leader assures us things are better than they seem. We hope he’s right.


More stories below, including another potential addition to our “unicorn” list (startups with billion dollar valuations.) The mythical creatures are becoming more common than milk cows.

Alan Murray


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