"It's been years, decades, since a president has lost a major trade initiative. That would be bad headlines"

This quote by Gwen Ifill recommends that it has actually been a very long time because a president has actually failed to pass a significant trade initiative. This indicates that it is not common for a president to fail in this location, which it would be a substantial occasion if it were to occur. The quote also suggests that it would be a negative event, as it would produce bad headlines. This could mean that it would be viewed as a sign of failure, or that it would be seen as a sign of a lack of development. It might likewise imply that it would be seen as an indication of an absence of leadership. In any case, it is clear that Gwen Ifill believes that it would be a considerable occasion if a president were to stop working in a major trade initiative.