• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar

3

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

1

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind

2

Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar

3

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Features

Senate leaders strike deal to move trade debate forward, but hurdles remain

By
Tory Newmyer
Tory Newmyer
Down Arrow Button Icon
By
Tory Newmyer
Tory Newmyer
Down Arrow Button Icon
May 13, 2015, 5:12 PM ET
House Fails To Pass Bill Funding Homeland Security Department
Photograph by Win McNamee — Getty Images
Add Fortune on Google for similar content.

President Obama’s free trade blitz is advancing, once again, in the Senate.

A day after Democrats in the chamber united to deny handing him the fast-track negotiating authority he wants to finish a massive Pacific Rim deal, Senate leaders on Wednesday afternoon announced an agreement to move forward on it.

Under the plan, Democrats will get votes on a measure cracking down on currency manipulation and beefing up trade enforcement, and another addressing African trade. But they will not be considered as part of the broader trade package. Democratic demands that the measures be joined together precipitated the meltdown on Tuesday.

The breakthrough, while significant, hardly clears the decks for Obama’s trade agenda, which the administration is pursuing as an economic capstone on his second term. The new framework sets up a debate on Senate passage of the fast-track bill next week. But that timing could slip because the chamber will also be dealing with extending a highway fund and a surveillance law before adjourning for a week-long Memorial Day recess.

Anti-trade forces have worked to slow Senate progress in hope that the debate slips into June, to give the labor and environmental groups more time to rally opposition. And the Senate, a body that’s generally favorable to trade deals, never presented Obama’s stiffest challenge. That will come in the House, where enough conservative Republicans are expected to balk at handing Obama extra authority that Democrats will need to supply the winning margin — a hodgepodge coalition that’s yet to materialize.

For more about overseas trade, watch this Fortune video:

About the Author
By Tory Newmyer
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Features

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Features

The American Dream according to Bill Ackman
MagazineBill Ackman
The American Dream according to Bill Ackman
By Jeff John RobertsJuly 20, 2026
3 days ago
Photo: Asha Sharma
Big TechMicrosoft
Exclusive: Xbox’s CEO on 3,200 layoffs, four studios cut, and her blunt warning that ‘we spread ourselves too thin’
By Sebastian HerreraJuly 6, 2026
17 days ago
David Senra poses in a black shirt in front of bookshelves
Startups & VentureMedia
How David Senra built the podcast the world’s most powerful CEOs can’t stop listening to
By Lily Mae LazarusJuly 5, 2026
18 days ago
Nike’s self-inflicted wounds are risking CEO Elliott Hill’s nascent comeback
RetailNike
Nike’s self-inflicted wounds are risking CEO Elliott Hill’s nascent comeback
By Phil WahbaJuly 4, 2026
20 days ago
Inside the mind of Kevin Warsh: As told by his former boss Condoleezza Rice, his college friend, and his closest partner during the financial crisis
MagazineKevin Warsh
Inside the mind of Kevin Warsh: As told by his former boss Condoleezza Rice, his college friend, and his closest partner during the financial crisis
By Eleanor PringleJuly 3, 2026
20 days ago
Anthropic CEO Dario Amodei pointing to his head.
AIAnthropic
At the heart of Anthropic’s clashes with the U.S. government, a decision not to play by the new rules of Trump’s Washington
By Jeremy KahnJune 30, 2026
23 days ago

Most Popular

The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
Real Estate
The millennial generation has split, new Fed research shows: Those over 35 are edging toward boomer-style wealth, while everyone else falls behind
By Nick LichtenbergJuly 22, 2026
1 day ago
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
Economy
Scott Bessent casually says the U.S. has more than $1 trillion in gold—and that it doesn’t matter for the dollar
By Sasha RogelbergJuly 22, 2026
1 day ago
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
3 days ago
'The man who dies rich dies disgraced': The last time America had such wealth inequality, Andrew Carnegie knew he had to give it all away
Success
'The man who dies rich dies disgraced': The last time America had such wealth inequality, Andrew Carnegie knew he had to give it all away
By Nick LichtenbergJuly 22, 2026
1 day ago
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
AI
Mathematicians grapple with a ‘very rapid and very unsettling change’ as AI cracks yet another century-old problem
By Eva RoytburgJuly 21, 2026
2 days ago
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
Success
Despite a $156 million contract, Knicks star Jalen Brunson still calls his parents for financial advice any time he makes a big purchase
By Emma BurleighJuly 21, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.