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00:00In order to protect American car manufacturers and American farmers,
00:04we have two modifications to the IEPA tariffs that have already been announced against Canada and Mexico.
00:10This first order relates to Canada.
00:13Essentially, what it will allow for is the flow of parts and subassembly products into America
00:22to allow American car manufacturers to continue building cars.
00:26It basically excludes USMCA-eligible goods from existing tariffs.
00:30And also, in order to help our farmers at this crucial time of year,
00:34we're going to be reducing the tariff imposed on Canadian potash from 25 percent to 10 percent.
00:40So this is a modification to our tariff regime to protect American car manufacturers and American farmers.
00:47It basically makes it more fair for our car manufacturers during the short-term period before April 2nd.
00:54April 2nd is a little bit different.
00:58That will be much more significant.
01:01But during this interim period between now and April 2nd,
01:05this makes it much more favorable for our American car manufacturers.
01:25Can you see that, Peter?
01:27Nice to be tall, Peter, right?
01:29I see right over him.
01:31You can see. It's so nice.
01:32That's why he's such a gentleman. He doesn't have to rush.
01:36Okay?
01:37And this is the same just for Mexico, sir, the previous one.
01:40Same thing for Mexico.
01:41That's exactly right.
01:42One for Canada, one for Mexico.
01:43Yes, sir.
01:45They've been in the news lately, haven't they?
01:50And I spoke to the president of Mexico, a wonderful woman, today,
01:55and we helped them out with a problem they were having,
01:59having to do with the tariffs, short-term tariffs.
02:03And we had a very good conversation.
02:06Also, we discussed drugs, and they've been working much harder lately.
02:10Do you notice that?
02:12On people coming in and drugs.
02:14And we've made tremendous progress on both.