Peter Brown

Now, in terms of complicated, you know, pharmaceuticals and things like that, it takes a decade, right, to open a factory to kind of get the sort of labor that you need to do that.

You know, nothing like that is going to happen in Trump's term.

So really, he has this thing about tariffs.

You can't get him away from it.

He thinks he's basically raising taxes off U.S.

companies and consumers.

Yeah, OK, well, we've got I mean, you know, Trump's in a really he's in a really bad position.

I mean, kind of Iran have him over a ballot.

The stage of Israel have gone rogue.

The.

The real issue here with the Strait of Hormuz is not the price of oil, right?

That's acceptable.

It's not the price of oil.

It's the production of urea, right?

And it's the production of sulfuric acid.

Hugely important, hugely important supplies.

Urea for commodities and sulfur for manufacturing of a lot of metals and issues like that.

So we've had...

the refining capacity there has been badly damaged.

So what we're going to see here is we're going to see a spike in inflation, food commodity inflation, inflation right across the board.