Brian Schimpf

Yeah, and I think this is part of a long-term strategic plan they have had, right?

They have used industrial policy beyond just military power to construct a world where they have a lot of leverage over the US and their allies.

They drive dependence on these things.

And it's a very sophisticated strategy that they're playing.

I think this is something that Trump recognizes.

I think he is a very good negotiator.

If he's saying these things, he understands what that means and how he is using that to position for maximum advantage.

And so I think it's going to be a long run conflict with China and that's something we've just got to be prepared for.

So when you look at defense as one of those areas where national security is paramount, pulling these technologies onto US and ally manufacturing is absolutely key.

And the strategy we've taken with this is there's a lot of industrial capacity in the US.

There's the ability to take advantage of largely commercial industry that can manufacture these things.

But when you start stepping back, there's things that defense alone can't solve.

These are things like

the rare earth magnets, germanium supply.

These are things that China has strategically tried to stranglehold, and this will require beyond just stating as a policy that you have to source it from America, the sources are very, very limited.

This is areas where I've been really encouraged by what the Trump administration has done around

trying to reignite this idea of how do you do smart industrial policy?

What is it going to look like in the US?

It's going to look different.

It's going to be a combination of tariffs.