00:00I'm going to get to the park.
00:07I don't know.
00:30I don't know.
01:02What I've heard also the argumentation behind that it's a forced labor, I mean, sorry, but
01:09you can't say that for European Union.
01:12If you compare our labor laws to the ones of the United States, I mean, we have, people
01:19have paid vacations, we have very good conditions, labor conditions for our employees, so it's
01:27not really grounded.
01:28We had a deal with America, and we have kept to that deal, that side of the deal, I mean,
01:35the negotiations were not easy, it is important for our companies that is predictability, that's
01:42why also the companies were saying that, you know, get to results, get to a negotiated deal
01:49because predictability is better than not having the view of what is coming.
01:55Look, can I say how disappointed we are in the decision of the United States Trade Representative
02:04to increase tariffs on some Australian products going into the United States?
02:12We do not believe it was justified.
02:16We believe that amongst all of the countries in the world, Australia does take the issue
02:23of slavery, modern slavery seriously, and we'll continue to do that.
02:28We think, and we believe, the Albanese government believes that this imposition of higher tariffs
02:34on Australia is completely unjustified.
02:37and we will continue to lobby the United States Trade Representative to remove all tariffs on Australian goods.
02:48From my point of view, the government's point of view, we will continue to argue very strongly for the removal
02:55of these tariffs.
02:57The Chinese in the US trade is the same, and the clear, and the clear, and the clear, and the
03:07clear, and the clear, and the clear.
03:10The trade agreement is not to match any other trade.
03:15It means that diamonds that are polished in our country can now move freely without tariffs to the United States.
03:23And why is it so important?
03:25The United States is 55% or more of world diamond consumption.
03:30So it's our major export partner when it comes to exporting polished diamonds.
03:36There's no mining or manufacturing happening in the United States.
03:40So there's no local domestic market that needs to be protected from European diamonds.
03:45But it's good news because when the Supreme Court struck down the tariff basis, the Emergency Act, we went back
03:54to 10%.
03:54In our world, for many, many decades, there's been zero tariff on exports of polished diamonds.
04:01In a world where margins are under high pressure, including in our midstream, in the entire global diamond industry,
04:09as many know, a 10% tariff means a big difference.
04:14A lot of people will have held on to certain shipments that they wouldn't have sent to the United States
04:20under a 10% tariff and that they will send now.
04:24And knowing my people in my industry very well, they will do so immediately.
04:30So I expect that today our diamond office in Antwerp will be very busy with people who have been waiting
04:35for this moment and hoping for this moment to happen.
04:38And we will see in the next couple of weeks, even though it's a summer recess, so it's a very
04:43slow period.
04:45But I'm expecting to see some uptick in goods going to the United States from Antwerp.
04:54So I'm going to say that as a Sunday, I can't wait to see some of the biggest changes in
04:57the world that we're going to the next day.
04:57So that's what we're going to do when we're going to the next year.
05:02I'm going to take a minute and see some uptick in my pocket.
