00:00We're going to turn to trade right now.
00:02It's a great pleasure to bring in U.S. trade ripper.
00:05Are you in touch with South Korea?
00:06What's doing?
00:08We are.
00:09You can imagine that.
00:10After the message went out, the Korean swiftly contacted me.
00:15We contacted others.
00:16Again, last summer, we reached a framework agreement with Korea.
00:20We implemented our portion where we modified our tariff rates.
00:23They were at 25%.
00:24We moved down.
00:2515% for Korea as a show of good faith.
00:27They have not executed their part.
00:30They haven't implemented it.
00:31They have a commitment to invest $350 billion in the United States.
00:35over the next three years.
00:36And they also have a commitment to allow more U.S. cars into Korea.
00:40to eliminate some of their non-tariff barriers on agriculture,
00:42to treat our digital companies fairly.
00:45But in the meantime, they haven't been able to get a bill through to do the investment.
00:50They've introduced new laws on digital services.
00:53They haven't done what they needed to do on agriculture.
00:55And industry, and so it's hard to continue to hold up our end of the bar.
01:00While they have not moved forward swiftly enough on their end.
01:03Well, I think...
01:05that they are getting the message.
01:06Again, I had conversations with them early this morning, actually.
01:10They have their trade officials coming into town later this week.
01:13So we'll hear from them.
01:15I'm happy to have meetings.
01:16We're happy to talk to them.
01:18You know, we have nothing in particular against Korea.
01:20They're an ally.
01:21But when it comes to the economics of all of this, it has to be balanced.
01:25Right now, it's about 50,000 units.
01:28It's a hard quota.
01:30And Canada...
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