1 00:00:02,480 --> 00:00:07,000 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:07,800 --> 00:00:11,040 Speaker 2: The conflict in the Middle East whipsawing food prices and 3 00:00:11,119 --> 00:00:14,000 Speaker 2: creating uncertainty for global trade. Palmer Am Marie John is 4 00:00:14,040 --> 00:00:18,640 Speaker 2: from Washington now with a special guest, a Marie. Good morning, John. 5 00:00:18,680 --> 00:00:21,000 Speaker 3: That's right, an individual who just met with a number 6 00:00:21,040 --> 00:00:23,560 Speaker 3: of the US trade partners at a wto meeting and 7 00:00:23,600 --> 00:00:28,080 Speaker 3: Cameroon is Ambassador Jamison Greer, the United States Trade Representative. 8 00:00:28,080 --> 00:00:30,360 Speaker 2: Ambassador gear Good morning, Thank you so much for joining me. 9 00:00:30,440 --> 00:00:31,600 Speaker 1: Good morning, great to be here. 10 00:00:31,760 --> 00:00:34,720 Speaker 3: So you just got back from meeting with a number 11 00:00:34,720 --> 00:00:37,080 Speaker 3: of trade partners, and at the moment, global trade is 12 00:00:37,159 --> 00:00:38,760 Speaker 3: upended by what's going on in the Strait. 13 00:00:38,600 --> 00:00:39,120 Speaker 2: Of her Moose. 14 00:00:39,640 --> 00:00:42,440 Speaker 3: Did you have an update to give American trading partners 15 00:00:42,479 --> 00:00:44,919 Speaker 3: about the flow of trade through that critical waterway. 16 00:00:45,520 --> 00:00:48,040 Speaker 1: Well, right now. I think the thing to understand is 17 00:00:48,080 --> 00:00:51,400 Speaker 1: that the United States is generally insulated from a lot 18 00:00:51,400 --> 00:00:54,760 Speaker 1: of the supply chain effects when it comes to direct 19 00:00:55,080 --> 00:00:57,480 Speaker 1: commodities and things like that. For a lot of that, 20 00:00:57,800 --> 00:01:00,320 Speaker 1: we have domestic sourcing. We have sourcing from our partners 21 00:01:00,360 --> 00:01:02,360 Speaker 1: to the north and south of US and other places. 22 00:01:02,680 --> 00:01:05,360 Speaker 1: But obviously we're aware that this has an impact in 23 00:01:06,240 --> 00:01:09,759 Speaker 1: other countries, particularly in Asia. We know that their supplies 24 00:01:09,760 --> 00:01:12,920 Speaker 1: are tight, and so we're watching that really closely. When 25 00:01:12,920 --> 00:01:15,000 Speaker 1: I was meeting with all of them, this was not 26 00:01:15,560 --> 00:01:18,160 Speaker 1: particularly high on their agenda things to discuss with me 27 00:01:18,200 --> 00:01:21,240 Speaker 1: because we were meeting for other reasons. But we're monitoring 28 00:01:21,280 --> 00:01:26,120 Speaker 1: the situation given that the supplies of commodities coming out 29 00:01:26,120 --> 00:01:28,240 Speaker 1: of the Gulf can affect our treating partners longways. 30 00:01:28,280 --> 00:01:31,400 Speaker 3: And it's not just crude, it's loqualified petroleum gas, which 31 00:01:31,400 --> 00:01:33,560 Speaker 3: you need, especially in countries like India to cook. 32 00:01:33,640 --> 00:01:37,360 Speaker 2: It's fertilizer. Do you have a sense of a timeline. 33 00:01:37,120 --> 00:01:39,959 Speaker 1: Well, you know, first of all, any kind of operation, 34 00:01:40,080 --> 00:01:41,880 Speaker 1: you're focused on objectives and you don't want to set 35 00:01:41,959 --> 00:01:45,080 Speaker 1: artificial timelines. When I hear from the Secretary of State 36 00:01:45,160 --> 00:01:48,440 Speaker 1: of sectur of Defense, they talk about, you know, operations 37 00:01:48,440 --> 00:01:51,520 Speaker 1: in terms of weeks. We hope that's the case. The 38 00:01:52,080 --> 00:01:54,120 Speaker 1: Trump administration has made a lot of headway and its 39 00:01:54,120 --> 00:01:57,360 Speaker 1: objectives in Iran in terms of destroying ballistic missiles, destroying 40 00:01:57,400 --> 00:01:59,560 Speaker 1: the navy, and making progress to make sure that they 41 00:01:59,600 --> 00:02:00,920 Speaker 1: don't have in a nuclear weapon. 42 00:02:01,160 --> 00:02:04,919 Speaker 3: You met on the sidelines with your Chinese counterpart. China 43 00:02:05,000 --> 00:02:08,639 Speaker 3: buys the lion's share of Iranian crude. We have seen 44 00:02:08,720 --> 00:02:12,840 Speaker 3: Chinese vessels given safe passage to Destrait. Did this become 45 00:02:12,880 --> 00:02:14,400 Speaker 3: a focal point of that conversation. 46 00:02:15,080 --> 00:02:15,520 Speaker 2: It did not. 47 00:02:15,720 --> 00:02:19,360 Speaker 1: When I met with my counterpart, Minister Wong, the Ministry 48 00:02:19,400 --> 00:02:22,200 Speaker 1: of Commerce minister, this did not come up. We were 49 00:02:22,240 --> 00:02:25,560 Speaker 1: focused on preparing for the Leader's meeting, which will occur 50 00:02:26,080 --> 00:02:29,000 Speaker 1: in mid May. We were talking about the WTO itself 51 00:02:29,040 --> 00:02:31,400 Speaker 1: and the future of it, or potentially lack thereof, as 52 00:02:31,480 --> 00:02:32,000 Speaker 1: the case. 53 00:02:31,840 --> 00:02:34,440 Speaker 3: May be, And so black there up youre thinking about getting. 54 00:02:34,160 --> 00:02:36,600 Speaker 1: Out, well, I wouldn't say that. I would just say 55 00:02:36,639 --> 00:02:39,200 Speaker 1: that the ability of the World Trade Organization to meet 56 00:02:39,200 --> 00:02:43,600 Speaker 1: the needs of the moment, addressing structural imbalances, currency issues, 57 00:02:44,720 --> 00:02:48,240 Speaker 1: huge export driven surpluses by other countries, the WTO has 58 00:02:48,280 --> 00:02:50,240 Speaker 1: never been able to address those things and it won't 59 00:02:50,240 --> 00:02:52,520 Speaker 1: be going forward. It can barely address issues on its 60 00:02:52,520 --> 00:02:53,399 Speaker 1: current agenda. 61 00:02:53,560 --> 00:02:57,079 Speaker 3: So potentially you want a revamp of the WTO. 62 00:02:57,120 --> 00:02:57,919 Speaker 2: Is that what you're calling for? 63 00:02:58,280 --> 00:03:00,320 Speaker 1: I will tell you that we have called for a reform. 64 00:03:00,400 --> 00:03:03,880 Speaker 1: The Trump administration has put in many proposals, concrete proposals 65 00:03:03,919 --> 00:03:07,840 Speaker 1: about reform about how to graduate countries to take on 66 00:03:07,880 --> 00:03:11,160 Speaker 1: more obligations as they become more developed. We've talked about 67 00:03:11,200 --> 00:03:14,959 Speaker 1: making sure that countries can adjust their tariff schedules to 68 00:03:15,000 --> 00:03:18,640 Speaker 1: account for national core interests, and we put forward a 69 00:03:18,680 --> 00:03:21,799 Speaker 1: reform plan together with a bunch of trading partners at 70 00:03:21,800 --> 00:03:24,680 Speaker 1: a recent meeting and Cameroon, and there was near consensus 71 00:03:24,720 --> 00:03:28,280 Speaker 1: on this. Countries like Brazil and Turkey eventually opposed the 72 00:03:28,280 --> 00:03:31,000 Speaker 1: closing package, which is unfortunate, but it's also kind of 73 00:03:31,040 --> 00:03:33,760 Speaker 1: exhibit a of how the WTO's unable to address these 74 00:03:33,760 --> 00:03:34,440 Speaker 1: core challenges. 75 00:03:34,680 --> 00:03:35,800 Speaker 2: Back to the street. 76 00:03:35,840 --> 00:03:38,440 Speaker 3: In your conversation with your Chinese counterpart, the President has 77 00:03:38,520 --> 00:03:41,000 Speaker 3: been pretty direct to European allies, if you want the 78 00:03:41,000 --> 00:03:43,400 Speaker 3: straight to open, you should also help us send vessels, 79 00:03:43,440 --> 00:03:44,120 Speaker 3: send a mind. 80 00:03:43,920 --> 00:03:45,560 Speaker 2: Sweep er, send your navy. 81 00:03:45,640 --> 00:03:48,320 Speaker 3: If China is the one that's benefiting the most in 82 00:03:48,400 --> 00:03:50,480 Speaker 3: terms of they're the ones that for years have been 83 00:03:50,520 --> 00:03:52,440 Speaker 3: supporting this brutal regime. 84 00:03:52,440 --> 00:03:55,120 Speaker 2: Should they also not be on the hook to reopen 85 00:03:55,120 --> 00:03:55,480 Speaker 2: the street. 86 00:03:55,800 --> 00:03:58,280 Speaker 1: Well, listen, this is a decision for China, and I'll 87 00:03:58,280 --> 00:04:01,080 Speaker 1: obviously let the President and TERFF, State and SECT Turf 88 00:04:01,200 --> 00:04:03,840 Speaker 1: Defense decide how they're going to line with other countries 89 00:04:03,880 --> 00:04:08,480 Speaker 1: in reacting to the straight Offomus closing. Again, it affects 90 00:04:08,480 --> 00:04:10,360 Speaker 1: these other countries much more than affects US. 91 00:04:10,680 --> 00:04:11,680 Speaker 2: Other countries have been. 92 00:04:11,600 --> 00:04:15,000 Speaker 1: Working with Iran to figure out arrangements to get out oil, gas, 93 00:04:15,080 --> 00:04:17,880 Speaker 1: fertilizer and all these other things. But it is clearly 94 00:04:17,880 --> 00:04:20,880 Speaker 1: in the interest of the world community to make sure 95 00:04:21,040 --> 00:04:23,200 Speaker 1: not only to make sure that the Strait is open, 96 00:04:23,760 --> 00:04:26,839 Speaker 1: but to make sure that Iran doesn't get a nuclear weapon, 97 00:04:26,960 --> 00:04:29,960 Speaker 1: Iran doesn't empower its terror proxies in the region. The 98 00:04:29,960 --> 00:04:32,279 Speaker 1: world would be much safer if the world was aligned 99 00:04:32,400 --> 00:04:33,800 Speaker 1: on taking care of the Iran issue. 100 00:04:33,880 --> 00:04:35,919 Speaker 3: As you prepare for this trip, there's a lot of 101 00:04:35,920 --> 00:04:39,560 Speaker 3: reporting that China, like Russia, is helping Iran, even when 102 00:04:39,560 --> 00:04:42,880 Speaker 3: it comes to not just supply chains but targeting US troops. 103 00:04:43,360 --> 00:04:45,440 Speaker 3: Is this going to be on the agenda when the 104 00:04:45,480 --> 00:04:48,919 Speaker 3: president meets? Is this even potentially a reason why the 105 00:04:48,960 --> 00:04:50,840 Speaker 3: trip could maybe get postponed. 106 00:04:51,320 --> 00:04:54,440 Speaker 1: In past meetings between the presidents, they've always talked about 107 00:04:54,480 --> 00:04:57,839 Speaker 1: conflicts and hotspots. In the past, they've talked about Ukraine 108 00:04:57,839 --> 00:05:00,840 Speaker 1: and Russia, They've talked about Iran. Assume that they'll talk 109 00:05:00,880 --> 00:05:04,320 Speaker 1: about these things again. With respect to your question, is 110 00:05:04,320 --> 00:05:06,560 Speaker 1: there going to be a delay in the meeting. I 111 00:05:06,560 --> 00:05:09,680 Speaker 1: haven't heard talk about that either internally. I didn't hear 112 00:05:09,680 --> 00:05:12,440 Speaker 1: that from my Chinese counterpartment. I talked him last week. 113 00:05:12,640 --> 00:05:15,239 Speaker 3: When it comes to the tariffs right now, there's Section 114 00:05:15,320 --> 00:05:17,520 Speaker 3: three or one tariffs that you're looking into when it 115 00:05:17,560 --> 00:05:20,400 Speaker 3: comes to China, and we've seen China actually have their 116 00:05:20,440 --> 00:05:23,920 Speaker 3: own announcement that they're going to investigate US companies. This 117 00:05:24,120 --> 00:05:26,760 Speaker 3: tit for tat we might see in the trade between 118 00:05:26,880 --> 00:05:29,200 Speaker 3: Ijing and Washington back to where we're almost what it 119 00:05:29,200 --> 00:05:29,599 Speaker 3: feels like. 120 00:05:29,640 --> 00:05:30,279 Speaker 2: A year ago. 121 00:05:30,839 --> 00:05:33,320 Speaker 3: Do you think that's going to hinder the US from 122 00:05:33,320 --> 00:05:35,680 Speaker 3: getting back to the twenty percent level they were at 123 00:05:35,720 --> 00:05:37,039 Speaker 3: before I eep it was struck down. 124 00:05:37,520 --> 00:05:39,599 Speaker 1: I don't think so. When you look back to the 125 00:05:39,600 --> 00:05:43,200 Speaker 1: Busan agreements, the agreements we achieved with the Chinese last year, 126 00:05:43,560 --> 00:05:47,480 Speaker 1: we were seeking stability. We were seeking to receive, achieve 127 00:05:47,520 --> 00:05:50,279 Speaker 1: a level of tariff application on one side and the 128 00:05:50,320 --> 00:05:53,560 Speaker 1: flow of rare earth minerals and things from the other side. 129 00:05:53,920 --> 00:05:57,000 Speaker 1: Both sides want stability, Both sides want to see continuity. 130 00:05:57,080 --> 00:05:59,159 Speaker 1: The Chinese know that the United States is trying to 131 00:05:59,279 --> 00:06:01,680 Speaker 1: control for our you know, giant trade deficit, we've had 132 00:06:01,720 --> 00:06:03,840 Speaker 1: with China for a long time, which went down by 133 00:06:03,920 --> 00:06:06,200 Speaker 1: thirty percent last year, by the way, So I don't 134 00:06:06,200 --> 00:06:06,880 Speaker 1: think it's going right. 135 00:06:06,960 --> 00:06:10,760 Speaker 3: But China's imports to other countries in the and I 136 00:06:10,800 --> 00:06:12,840 Speaker 3: went up, and then those countries are important to the 137 00:06:12,960 --> 00:06:14,919 Speaker 3: United States, don't you have an issue with transhipment at 138 00:06:14,960 --> 00:06:15,279 Speaker 3: the moment? 139 00:06:15,440 --> 00:06:17,440 Speaker 1: So there's there's always been an issue with transhipment. But 140 00:06:17,520 --> 00:06:20,120 Speaker 1: when you look at our shipments from third countries outside 141 00:06:20,120 --> 00:06:24,840 Speaker 1: of China since April, right since Liberation Day, that deficit 142 00:06:24,839 --> 00:06:27,160 Speaker 1: has gone down by seventeen percent. So while there may 143 00:06:27,160 --> 00:06:29,880 Speaker 1: be some transhipment, overall, our trade deficit is going down, 144 00:06:29,920 --> 00:06:31,480 Speaker 1: so down with China, it's going down with the rest 145 00:06:31,520 --> 00:06:33,920 Speaker 1: of the world. It's going exactly the right production direction. 146 00:06:34,360 --> 00:06:36,279 Speaker 1: At the same time, wages are going up in America, 147 00:06:36,400 --> 00:06:37,520 Speaker 1: productivity is going up. 148 00:06:37,720 --> 00:06:39,039 Speaker 2: Do you think you're going to get to the twenty 149 00:06:39,040 --> 00:06:39,679 Speaker 2: percent level? 150 00:06:40,279 --> 00:06:42,920 Speaker 1: Well, I can't prejudge the investigations right at Section three 151 00:06:42,960 --> 00:06:44,840 Speaker 1: oh one. We have to go through the legal process. 152 00:06:44,880 --> 00:06:47,920 Speaker 1: We have to collect information. It's quite public, it's quite transparent. 153 00:06:48,520 --> 00:06:50,120 Speaker 1: You know. We know what the nature of the deal 154 00:06:50,200 --> 00:06:53,280 Speaker 1: is that we struck with the Chinese, so we will see. 155 00:06:53,320 --> 00:06:55,599 Speaker 1: All I know is that the President for sure is 156 00:06:55,640 --> 00:06:58,039 Speaker 1: going to keep protecting our economy. He's going to protect 157 00:06:58,080 --> 00:07:00,680 Speaker 1: our producers so we can continue to have increased production 158 00:07:00,720 --> 00:07:02,440 Speaker 1: in the US increase wages here. 159 00:07:02,279 --> 00:07:05,480 Speaker 3: If China plays hardball though, not just with their own investigations, 160 00:07:05,480 --> 00:07:08,680 Speaker 3: but potentially bringing rare earths back into the foraight. I 161 00:07:08,720 --> 00:07:11,240 Speaker 3: know they have basically till October. There's a deal on 162 00:07:11,320 --> 00:07:14,960 Speaker 3: the table potentially, then would you look to maybe decrease 163 00:07:15,000 --> 00:07:15,800 Speaker 3: the tariff level. 164 00:07:16,240 --> 00:07:20,400 Speaker 1: Well, you know, from our perspective, we're looking for stability. 165 00:07:21,000 --> 00:07:23,320 Speaker 1: We're trying to achieve we're trying to get the trade 166 00:07:23,360 --> 00:07:27,840 Speaker 1: deficit reduced, We're trying to increase manufacturing in the United States, 167 00:07:27,840 --> 00:07:29,640 Speaker 1: and we're trying to increase real wages and all of 168 00:07:29,640 --> 00:07:31,760 Speaker 1: that is happening. So we don't see a need to 169 00:07:31,840 --> 00:07:35,280 Speaker 1: change our policy. The Chinese wants stability, We want stability. 170 00:07:35,360 --> 00:07:37,880 Speaker 1: I actually see a positive agenda with China going forward, 171 00:07:37,880 --> 00:07:39,920 Speaker 1: where we learn to manage our trade with each other, 172 00:07:40,280 --> 00:07:42,520 Speaker 1: where we pick the kinds of things we want to 173 00:07:42,520 --> 00:07:45,800 Speaker 1: be selling to each other, things that are mostly non sensitive, 174 00:07:46,040 --> 00:07:48,800 Speaker 1: to avoid some of the national security elements that prove 175 00:07:48,880 --> 00:07:52,720 Speaker 1: challenging and negotiations. I see stability with China over the 176 00:07:52,760 --> 00:07:53,200 Speaker 1: next year. 177 00:07:53,480 --> 00:07:55,400 Speaker 3: When it comes to this extension on rare earths, Are 178 00:07:55,440 --> 00:07:57,920 Speaker 3: you going to need one in October or will you 179 00:07:57,960 --> 00:07:59,560 Speaker 3: think the United States is in a place where we 180 00:07:59,600 --> 00:08:00,680 Speaker 3: don't extension. 181 00:08:00,760 --> 00:08:02,960 Speaker 1: Well, we've made a lot of progress. We have a 182 00:08:02,960 --> 00:08:05,040 Speaker 1: few months, so I think we'll assess that down the road. 183 00:08:05,640 --> 00:08:07,880 Speaker 1: You know, we have Project Vault where we're stockpiling a 184 00:08:07,920 --> 00:08:10,200 Speaker 1: lot of critical minerals and rare earths. We have new 185 00:08:10,200 --> 00:08:13,200 Speaker 1: projects in the United States to mind process and manufacture 186 00:08:13,240 --> 00:08:16,920 Speaker 1: rare earths, including permanent magnets that we need for different motors. 187 00:08:17,200 --> 00:08:20,800 Speaker 1: We're working with our counterparts and our trading partners Australia, 188 00:08:20,840 --> 00:08:23,720 Speaker 1: the EUGE, Pan, Mexico to find projects we can do 189 00:08:23,800 --> 00:08:25,680 Speaker 1: together to increase supply chain security. 190 00:08:25,920 --> 00:08:27,160 Speaker 2: How much will weare Earth's. 191 00:08:26,880 --> 00:08:28,840 Speaker 3: Be on the table this discussion with the President in 192 00:08:28,880 --> 00:08:29,920 Speaker 3: Shijing Pang in May. 193 00:08:30,560 --> 00:08:33,280 Speaker 1: So when we met in Paris with our Chinese counterparts 194 00:08:33,320 --> 00:08:35,640 Speaker 1: a couple of weeks ago, we talked about rare earths. 195 00:08:36,440 --> 00:08:39,280 Speaker 1: The process with the Chinese is working fairly well. There 196 00:08:39,280 --> 00:08:41,320 Speaker 1: are a few things here and there where we highlighted 197 00:08:41,320 --> 00:08:43,560 Speaker 1: that we didn't feel like we were getting rare earths 198 00:08:43,559 --> 00:08:46,800 Speaker 1: in a timely fashion, and we highlighted that to our partners. 199 00:08:46,920 --> 00:08:49,080 Speaker 1: They took note of that and have it under consideration. 200 00:08:49,320 --> 00:08:51,920 Speaker 1: So the presidents will talk about it if they need to. 201 00:08:52,320 --> 00:08:54,559 Speaker 1: Our hope and expectation is that we're able to manage 202 00:08:54,600 --> 00:08:55,760 Speaker 1: a lot of it between now and then. 203 00:08:55,840 --> 00:08:57,680 Speaker 3: At the staff level, do you think you're going to 204 00:08:57,679 --> 00:09:00,800 Speaker 3: have to meet your counterparts again before for the big 205 00:09:00,880 --> 00:09:02,000 Speaker 3: leader meeting in Beijing. 206 00:09:02,360 --> 00:09:03,920 Speaker 1: I don't think we're going to need to do that, 207 00:09:04,440 --> 00:09:07,520 Speaker 1: particularly when we were in Paris. We reach general agreement 208 00:09:07,600 --> 00:09:10,280 Speaker 1: on the types of outcomes we want for the leader's meeting, 209 00:09:10,280 --> 00:09:13,240 Speaker 1: and right now our deputies and our staff community are 210 00:09:13,240 --> 00:09:17,120 Speaker 1: in regular communication to try to land all those outcomes. 211 00:09:17,360 --> 00:09:19,240 Speaker 3: Can you give us any sense of what the main 212 00:09:19,320 --> 00:09:20,920 Speaker 3: deliverables are going to be in Beijing? 213 00:09:21,400 --> 00:09:24,040 Speaker 1: I think that one of them. In people. There's been 214 00:09:24,040 --> 00:09:25,680 Speaker 1: a little bit of coverage on this. We've been talking 215 00:09:25,720 --> 00:09:28,320 Speaker 1: about a board of trade, a US China board of Trade, 216 00:09:28,440 --> 00:09:31,280 Speaker 1: which really will be a mechanism to help manage trade. 217 00:09:31,360 --> 00:09:33,520 Speaker 1: Over the past ten years or so, as the United 218 00:09:33,559 --> 00:09:37,040 Speaker 1: States has tried to eliminate its trade deficit with China, 219 00:09:37,440 --> 00:09:41,480 Speaker 1: figure out its export control situation, if we can formalize 220 00:09:41,480 --> 00:09:43,720 Speaker 1: the mechanism a little bit to make sure that we 221 00:09:43,760 --> 00:09:46,440 Speaker 1: are we can agree on things we are selling to 222 00:09:46,480 --> 00:09:49,640 Speaker 1: each other. For the US, we want to be selling boeings, 223 00:09:49,960 --> 00:09:53,319 Speaker 1: we want to be selling medical devices, pharmaceuticals, AG products, 224 00:09:53,440 --> 00:09:55,560 Speaker 1: things like that. You know, the Chinese want to be 225 00:09:55,559 --> 00:09:57,640 Speaker 1: selling things to us, and we're willing to buy things 226 00:09:57,720 --> 00:10:00,600 Speaker 1: like you know, low tech consumer goods and things like that, 227 00:10:00,679 --> 00:10:03,000 Speaker 1: certain commodities that maybe the Chinese have that we don't. 228 00:10:03,360 --> 00:10:07,319 Speaker 1: And so coming establishing that type of mechanism at the 229 00:10:07,400 --> 00:10:09,920 Speaker 1: leader's meeting and then going through a process of figuring 230 00:10:09,960 --> 00:10:12,000 Speaker 1: out how to optimize trade with each other, that's going 231 00:10:12,080 --> 00:10:12,280 Speaker 1: to be a 232 00:10:12,280 --> 00:10:14,480 Speaker 3: Big deliverable Ambassador Grow, Thank you so much for your time 233 00:10:14,520 --> 00:10:14,920 Speaker 3: this morning.