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This is the moment when we must build on the wealth that open markets have created, and share its benefits more equitably. Trade has been a cornerstone of our growth and global development. But we will not be able to sustain this growth if it favors the few, and not the many.

The U.S. is excellent at importing cheap products from the rest of the world. Let's try importing some human capital instead.

That level of trade deficit throttles real growth in our country and continues the unfortunate path of selling out America. We are not winning the global trade war, we are losing it badly.

We are on pace this year to have a trade deficit that is larger than $800 billion. We have never faced that before, but we continue to put forward trade agreements like these that leave us naked to competition that is neither free nor fair.

But the - look, I think that this - the United States of America is still the most powerful economy in the world. It is an incredible engine for creativity and innovation. And it has the most - smartest, most effective workforce in the world. So we have a lot going for us, in spite of the fractiousness of our politics.

It is a foregone opportunity that we could have a trillion dollars more of income for the United States if we were producing at capacity rather than falling so far short of it.

When America closes its doors, so does everybody else. We are the primary engine of growth in the world and we are the only beacon of free trade left, and open markets.

Naturally we are aware of the strength of our economy and naturally we don't want to downplay it.

For a variety of reasons, we are not producing at a given level of economic activity the jobs we used to have.

We find that no matter what country we're in, if we hit the right economic notes and appeal to the mass market, we're able to build the business very, very rapidly.