Romney Calls for 'Higher-Standard' WTO

Mitt Romney (R)
Mitt Romney (R)

Mitt Romney said Tuesday that if he were president he would propose creating a global trade body that would be of a "higher-standard" than the World Trade Organization.

"We have to say that if you want to have real trade with America and our friends around the world, you need to abide by a higher standard," Romney told CNBC in an interview.

The former Massachusetts governor said this trade organization would require participating countries to protect U.S. intellectual property and it would require that their currencies float at market rates.

"You can’t do the special deals that are being done by the Chinese, that are being done to protect their economy,” he said.