I have many clips which all need basic editing such as adjusting the start and end. I would also like to reuse these same clips in multiple videos without setting the start and end again. I would like a portfolio of these basic edits once and simply use them as is. Of course inside premiere i would edit them again if necessary and so on without affecting the original settings. Is this possible if so how ?
Within a new project, create a sequence/timeline; call it 'Basic Edits' if you like, and make your trim edits on the source clips there. For each of your multiple videos, create a new sequence and copy-paste the trimmed clips from the first sequence.
Or if you want to use these clips in another project, you can import the sequence by the File -> Import menu dialog.
Of course, I presume that by Adobe Premiere, you don't mean Premiere Elements - the lite version - which doesn't feature multiple sequences in a project, as far as I know.