That's a great question. If we're going to be looking at border carbon adjustments, certainly being in lockstep with the United States and their policies around it would be imperative for us, seeing as they're our largest trading partner.
With respect to the European Union, I would be cautious about looking at the way they implement their CBAM. The World Trade Report that came out in 2023, I believe, suggested that there will be a decrease in exports to the EU from high-carbon-intensity economies. I think we have to make sure that any programs we implement are science-based and practical to implement and will not create competitive disadvantages. We need to align with countries like the U.S., which will certainly put in financial programs to help their producers in order to make sure they aren't seeing a competitive disadvantage on their exports.
We need to be very cautious about how we approach BCAs. We need to make sure we are aligned with our biggest trading partners, for sure.