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00:00OK, let me turn to Greg. Feel free to pick up on what David just said out there.
00:05And I want to ask you what the logic is behind these tariffs.
00:10I think there's a few. And, you know, David alluded to the to the factories that have that we've lost or the industrialization,
00:17the deindustrialization of the Rust Belt, especially the middle part of the country.
00:22So and then there's some error to the argument that, you know, some of these factories might have been obsolete.
00:27We're moving into a more high tech world. But I do think it's important, especially for national security reasons, to have supply chains at home.
00:35So tariffs can be used, not not perfectly, but they can be used to encourage the onshoring.
00:43But I don't think there's going to be a lot of tariffs. I think this is right out of the classic President Trump playbook of threatening the tariffs and then getting to the to the negotiating table.
00:53And you've seen 70 countries reach out to the White House in the last few days.
00:58You've got you know, already you're seeing the the the the deals being proposed, you know, Vietnam folded first or at least offered zero tariffs first.
01:07So I think, you know, and then, of course, you saw the EU yesterday make that, you know, offer at least or at least a promise to negotiate.
01:16So, look, I don't think there'll be as many tariffs as people fear.
01:21And if if tariffs are so bad, I've always wondered, why do all these other countries use them?
01:26So.