00:00Thank you very much. So we have good news. We've reached a deal. It's a good deal for everybody, I believe. And it's, I think you were saying this is probably the biggest deal ever reached in any capacity, trade or beyond trade.
00:18It is. It's a, it's a giant deal with lots of countries. Because as you know, Ursula represents a lot of countries, not one country. It's a, it's not easy for you. That's because a lot of very different countries, great countries. But some are strong with cars, some are strong with agriculture, some are strong with both, right? You have a lot of different factors.
00:39So we're going to do the following. The European Union is going to agree to purchase from the United States $750 billion worth of energy, $750 billion worth of energy.
01:01They are going to agree to invest into the United States $600 billion more than they're investing already. So they're investing a large amount of money. You know what that amount of money is. It's very substantial.
01:21But they're going to invest an additional $600 billion. They're agreeing to open up their countries to trade at zero tariff. So that's a very big factor. Opening up their countries, all of the countries will be opened up to trade with the United States at zero tariff.
01:44And they're agreeing to purchase a vast amount of military equipment. We don't know what that number is. But it's, it's the good news is we make the best military equipment in the world. So sort of you have to do that. I mean, we are agreeing that the tariff straight across for automobiles and everything else will be a straight across tariff of 15%.
02:13So we have a tariff of 15%. We have the opening up of all of the European countries.
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