Bill Clinton: “No, not necessarily. I think we need a different trade policy. Let me say that the linchpin of our policy still must be…”

“No, not necessarily. I think we need a different trade policy. Let me say that the linchpin of our policy still must be to expand trade. A wealthy country cannot grow wealthier by hunkering down within its own borders. We have to be a great trading nation, and we have to help other nations to grow wealthier in order for them to buy more of our products. So our goal still has to be to expand trade. But we no longer have the luxury, with other nations having grown so much more rapidly than we for 20 years, other nations being about as wealthy as we are--we no longer have the luxury of being the only country in the world that can ignore certain problems in terms of trade fairness that other countries don't ignore. We have to make sure that we are treated in these market-opening measures with the requisite amount of fairness. And so I think we may have a firmer trade policy in some respects than we've had in the past, but our allies will be under no illusions. I do not want a protectionist trade policy; I want to expand trade. But I want to do it in ways that preserves America as a high-wage country. Otherwise, we won't be very good trading partners for a lot of these nations over the long run. Thank you very much.”