Peter St. Onge

which are lower in the US now than they are most of our trade partners, including China.

And then the other one is the regulations.

Now, regulations in the US are so much more harmful and expensive than they are in Korea, that I think Koreans are absolutely going to try to drag their feet.

You know, even like semiconductors are coming in, but a lot of that is just to get on Trump's good side.

They're doing the absolute minimum.

On the other hand, Europe

That's for real.

Right.

The tax rates in Europe are extortionate.

Many countries, they're more than 50 percent.

I don't know why people even work in Europe.

You don't beyond a certain point.

And the regulations, there was one estimate that in Germany, regulations are two to three times more burdensome than they are in the U.S.

to the point that one out of five, one out of five employee minutes in Germany is dedicated to regulatory compliance.

Which is insane.

Those regulations don't create anything.

Before the regulations existed, like really, you know, the big era for the takeoff of regulations was really the 60s and 70s.

You back to the 1950s, it's not like the German economy was, you know, it wasn't like Mad Max, right?

People weren't.

It wasn't the purge.