One of the areas most urgently in need of new policies is the area of trade. In my various trips to the Latin American countries and the other Americ… - Richard Nixon

Let me briefly review for you the principles that govern our view of a just political settlement. First, our overriding objective is a political solution that reflects the will of the South Vietnamese people and allows them to determine their future without outside interference. I again reaffirm this Government's acceptance of eventual, total withdrawal of American troops. In turn, we must see the permanent withdrawal of all North Vietnamese troops and be given reasonable assurances that they will not return. Second, a fair political solution should reflect the existing relationship of political forces within South Vietnam. We recognize the complexity of shaping machinery that would fairly apportion political power in South Vietnam. We are flexible; we have offered nothing on a take-it-or-leave-it basis. And third, we will abide by the outcome of the political process agreed upon. President Thieu and I have repeatedly stated our willingness to accept the free decision of the South Vietnamese people. But we will not agree to the arrogant demand that the elected leaders of the Government of Vietnam be overthrown before real negotiations begin.

Most Latin American exports now are raw materials and foodstuffs. We are attempting to help the other countries of the hemisphere to stabilize their earnings from these exports, to increase them as time goes on. Increasingly, however, those countries will have to turn more toward manufactured and semimanufactured products for balanced development and major export growth. Thus they need to be assured of access to the expanding markets of the industrialized world. In order to help achieve this, I have determined to take the following major steps: First, to lead a vigorous effort to reduce the nontariff barriers to trade maintained by nearly all industrialized countries against products of particular interest to Latin America and other developing countries. Second, to support increased technical and financial assistance to promote Latin American trade expansion. Third, to support the establishment, within the inter-American system, of regular procedures for advance consultation on trade matters. United States trade policies often have a very heavy impact on our neighbors. It seems only fair that in the more balanced relationship we seek, there should be full consultation within the hemisphere family before decisions affecting its members are taken, and not after. And finally, most important, in world trade forums, I believe it is time to press for a liberal system of generalized trade preferences for all developing countries, including Latin America. We will seek adoption by all of the industrialized nations of a scheme with broad product coverage and with no ceilings on preferential imports. We will seek equal access to industrial markets for all developing countries, so as to eliminate the discrimination against Latin America that now exists in many countries. We will also urge that such a system eliminates the inequitable "reverse preferences" that now discriminate against Western Hemisphere countries.

Then one final thought. Three hours ago at the White House, I received in the Rose Garden the members of the finance committee of the Republican National Committee, about 150 people. What a splendid group of people they were. I looked across that group there standing in that garden and I saw people who, going back over 20 years, have raised money for this party in good years and bad, for my campaigns, but more than that, for the campaigns of Republicans every place, and I regretted the fact that time was such, that my appointments schedule was so heavy, that even with that small a group I was unable to thank each one of them personally for what he had done. Here tonight, 1,600 people, $1,000 a plate. Believe me, if you don't think there is inflation, think of that price! But nevertheless, my wife and I are able only to thank a few of you. I just want you to know as I stand here and as I see this great sea of faces before me, I am deeply grateful, we are all deeply grateful, those of us who are in Washington because of what you have done, for the contributions you have made, for your support of this dinner.