Roland Busch

And the reason is, maybe you mentioned it, number one is the ability of people, also trained people.

It is that you don't know yet where the whole tariff situation settles at the end of the day.

The other reason is that, I mean, why are we in a world which looks like as it looks like?

Because, I mean, in particular, American companies, they were basically...

leveraging low labor cost and low cost in other countries and they made a good living out of it.

And you mentioned some of them as well.

So, do I believe that this will change?

Yes, I believe there will be a wave.

You'll see more manufacturing coming and I didn't mention semiconductors.

Definitely, this is hard fact.

Semiconductor build, maybe even battery factories would come, pharmaceuticals and the like.

The only point what I always advise our customers, if you build a new manufacturing line in the United States,

make it as automated and as digital as possible for obvious reasons, because you cannot get enough labor, let alone trained labor and technology is there.

So if you go there with a,

greenfield planned you have all the freedoms to make this whole thing digital before even send the first excavation machine your products digitalizing your manufacturing simulate everything that's what we do by the way whenever we build a new one we go all in and then you build it it's faster you don't make mistakes in building it increases your space productivity and reduces your energy consumption it increases your output while having more

more variables and more variants of your products.

So that will come, but we thought it comes faster, but it seems there's a delay in really ramping up manufacturing in the United States.

And again, maybe sector by sector, you'll see different patterns.

The later one.

I don't believe these tariffs will snap back.