Cryptic crossword clue
Uses white fluid or red ink, traditionally

The most common and most likely answer to this crossword clue is the 8 letter word CORRECTS

I've seen this crossword clue in Financial Times
C
O
R
R
E
C
T
S

Buddy explains!

The straight part
We know that "Uses white fluid" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case uses white fluid = corrects.
The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.
This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.

What does CORRECTS mean?

CORRECTS verb
  1. To make something that was wrong become right; to remove error from.
  2. (by extension) To grade (examination papers).
  3. To inform (someone) of their error.
  4. To discipline; to punish.

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