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00:00Tell me this. When you take a step back and look at the car industry today, there's a lot of fear in the United States about what this means, not just for imports, but also for domestic vehicles, because so many of the parts in domestically made vehicles in the United States are made abroad. How do you see that playing out?
00:16Again, I think it's too early to say. I understand from the beginning what's the intention. And again, I'm going to give you two examples. In China, which is the largest market in the world, more than 90% of the cars sold in China are made in China. In the United States, which is the second largest market in the world, less than 50% of the cars sold in the United States are made in the United States.
00:37So obviously, there is temptation to say, you know why that you guys should make an effort to build more cars in the United States, because this is your main market. And the president has already sent the signal by saying, I want you to build more car in the United States. So no matter where the tariffs will end, I think this is a signal for a lot of car manufacturer to build more car in the United States.
01:04And it's happening, you know, some announcement made by car manufacturers saying they're going to, you know, load more the plants that they have in the United States on detriment of the plant at origin. Nissan, for example, announced that Smyrna in Tennessee will be more loaded on detriment of production coming from Kyushu in Japan. So there is already an effect.