Change We Can Believe In, by Barack Obama: on Free Trade

Impossible to turn back globalization; we’d be worse off

There are some who believe that we must try to turn back the clock on this new world; that the only chance to maintain our living standards is to build a fortress around America; to stop trading with other countries, shut down immigration, and rely on old industries. I disagree. Not only is it impossible to turn back the tide of globalization, but efforts to do so can make us worse off.

Rather than fear the future, we must embrace it. I have no doubt that America can compete--and succeed--in the 21st century. And I know as well that more than anything else, success will depend not on our government, but on the dynamism, determination, and innovation of the American people.

Don’t let trade policy be dictated by special interests

We cannot stand by while countries manipulate currencies to promote exports, creating huge imbalances in the global economy. We cannot let foreign regulatory policies exclude American products. We cannot let enforcement of existing trade agreements take a backseat to the negotiation of new ones. Put simply, we need tougher negotiators on our side of the table--to strike bargains that are good not just for Wall Street, but also for Main Street. And when I am President, that’s what we will do.

Global trade is unsustainable if it favors only the few