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00:00First of all, whose fault is it that the U.S. GDP was down 0.3% in the first quarter?
00:07Do you want to put it on someone?
00:09I don't want to put it on anyone. I just want to know what you think.
00:13Actually, it's several factors. Of course, tariffs play a big role in this. We cannot deny it.
00:20But you have to take into consideration that normally and historically speaking,
00:24whenever you have a cycle of increasing or hiking interest rate and then you're going to start decreasing interest rate,
00:33historically speaking, the economy might go into a certain recession.
00:37But of course, the tariffs, actually, it was kind of the cherry on the cake.
00:42It made things worse. So this is briefly.