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00:00But it's important that we already have a series of talks ongoing with the Americans
00:06on a bilateral trade deal now that we're out of the European Union.
00:11And that is an important possible exit route for Sikhiye Starmer in dealing with this tariff
00:19threat.
00:20But they're going to be on in the first instance.
00:25It's going to harm U.K. exports to the U.S.
00:30We don't know how long they're going to last.
00:33And we don't know to what extent President Trump is going to be committed to tariffs
00:39for the whole period of his tenure in the White House.
00:44So there are plenty of uncertainties that have got to be worked through.
00:49And I think the Americans themselves, as you've been discussing earlier in your program, will
00:55have to decide whether they are good for the U.S. and for the U.S. consumer, or they're
01:01going to produce inflation and the loss of jobs and all sorts of other disadvantages.