00:00I think it's critically important that all people in the trade, both outside of the United States, but also in
00:08the United States,
00:09have clarity about the future of the relationships, because, you know, it's a bit like driving.
00:16You want to know the rules of the road before you get in the car.
00:21It's the same with trade. It's the same with investment.
00:24You want to know what the rules are, and you want to avoid having to, you know, come back and
00:30claim tariffs back,
00:31because this is just not the purpose of people doing business.
00:36They want to do business. They don't want to go into legal lawsuits.
00:39I don't know what the outcome of those meetings will be, but, you know, it's not as if it was
00:44sort of straightforward, 15 percent across the board.
00:46There are also exemptions. There are carve outs. There are areas for which there is no tariffs.
00:51So I think if it shakes the whole equilibrium, which, you know, people in the trade had got used to,
00:58because they continued trading after the April decisions and the July trade arrangement between the U.S. and Europe.
01:06But to sort of shake it up again is going to bring about disruptions in the business, for sure.
01:12Of course, I do.
01:12Grazie a tutti.
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