E.J. Antoni

Exactly. And it's not just the fact that they are evading the tariffs on China, but then they're getting it's kind of a one to punch because they're evading the Chinese tariffs. And then they're also getting the preferential treatment that other nations don't get within the USMCA. So it's not simply that China is not China, but they're on a level playing field with the rest of the world.

Exactly. And it's not just the fact that they are evading the tariffs on China, but then they're getting it's kind of a one to punch because they're evading the Chinese tariffs. And then they're also getting the preferential treatment that other nations don't get within the USMCA. So it's not simply that China is not China, but they're on a level playing field with the rest of the world.

Exactly. And it's not just the fact that they are evading the tariffs on China, but then they're getting it's kind of a one to punch because they're evading the Chinese tariffs. And then they're also getting the preferential treatment that other nations don't get within the USMCA. So it's not simply that China is not China, but they're on a level playing field with the rest of the world.

No, it's one step further. They're even getting preferential treatment.

No, it's one step further. They're even getting preferential treatment.

No, it's one step further. They're even getting preferential treatment.

Yeah. That's my late grandfather's. And since we have the same initials, it was, it was left to me. That's cool.

Yeah. That's my late grandfather's. And since we have the same initials, it was, it was left to me. That's cool.

Yeah. That's my late grandfather's. And since we have the same initials, it was, it was left to me. That's cool.

It's interesting. If it really was the case that all of these tariffs would instantly be passed along to the consumer in all instances, then American dairy farmers would have no problem competing in Canada because they would just take that 270% tariff or the equivalent thereof. and pass along to their Canadian consumers. Except they can't, because it would make them uncompetitive.

It's interesting. If it really was the case that all of these tariffs would instantly be passed along to the consumer in all instances, then American dairy farmers would have no problem competing in Canada because they would just take that 270% tariff or the equivalent thereof. and pass along to their Canadian consumers. Except they can't, because it would make them uncompetitive.

It's interesting. If it really was the case that all of these tariffs would instantly be passed along to the consumer in all instances, then American dairy farmers would have no problem competing in Canada because they would just take that 270% tariff or the equivalent thereof. and pass along to their Canadian consumers. Except they can't, because it would make them uncompetitive.

So that's clearly not what happens, at least not in all instances. Now, there are a lot of different factors at play. There are different elasticities from one good to another, from one market to another. You also have changes that happen in terms of currency exchange rates. So there's a lot of moving parts. Thank you. Thank you. Thank you.

So that's clearly not what happens, at least not in all instances. Now, there are a lot of different factors at play. There are different elasticities from one good to another, from one market to another. You also have changes that happen in terms of currency exchange rates. So there's a lot of moving parts. Thank you. Thank you. Thank you.

So that's clearly not what happens, at least not in all instances. Now, there are a lot of different factors at play. There are different elasticities from one good to another, from one market to another. You also have changes that happen in terms of currency exchange rates. So there's a lot of moving parts. Thank you. Thank you. Thank you.

Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you.

Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you.

Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you. Thank you.

Thank you. Thank you. Thank you.

Thank you. Thank you. Thank you.