But I'm bothered by the anti-trade rhetoric.

 That being said I liked the speech.  And I know this sounds tired in the context of Obama, but it's all too easy to be cynical about it.  Anyone who decides that he can't mean everything he says will surely find some remark in the past or future that somehow undermines some part of the speech. But all that means is that a cynic will forever be supported by the world's imperfections. 

Naftali-- you're over-simplifying both Obama's speech and the history of racial policy. Just because some government programs were bad for racial harmony does not mean that government (or even bureaucracy) is always bad.