00:00Many people miss the fact that most trade is still occurring under WTO principles and that the United States represents
00:09about 10% to 11% of global trade and that it's changed its relationship bilaterally with its trade partners.
00:17But that still leaves 70% to 80% of global trade occurring under WTO rules and that's a great
00:24thing.
00:26Also keep in mind that there are 166 members of the WTO that means outside of the US bilateral relationships
00:34which account for only 1.2% of those potential relationships that leaves 98.8% of potential trade relationships
00:46to grow on a multilateral WTO trade related basis.
00:57Thank you.