Ryan Petersen

I forget the exact number, but they're quite high.

I think 50% or more.

on Chinese-made steel and aluminum.

Maybe I should know all these details.

It's very complex.

But if you have a couch that has steel and aluminum, you don't want to pay that 50%.

You don't want to pay that high duty on the entire couch.

You want to only pay it on the portion...

That's steel and aluminum.

So you really have to build this great, we call it a product library, which Flexport offers as technology products.

So you want to be able to track all these things at the subcomponent level.

Where's every item made?

And then there's all these new regulations that have been coming out for many, many years.

There's one called the Uyghur Forced Labor Protection Act, requires you to track the cotton, anything cotton, where is it made?

Specifically, like, wet down.

And then the EU has new ones very similar, but any forestry, any wood product, you'd be able to show where the wood was grown anywhere in the world.

Track that.

This is insanely complex.

Yeah.

Carbon, they want to know the carbon border adjustment factor, I think it's called, that they want to know all the input, all the carbon inputs of every single subcomponent of every product in the world.