It depends on exactly what is done in place of the carbon tax, but if we speak just about a carbon adjustment at the U.S. border, that would probably lead to an economic slowdown, and that could be significant, depending on the amount of the adjustment that the U.S. imposed. It's not unthinkable that if this was a significant adjustment, it could lead to significant negative impacts on sectors that are more energy-intensive.
We've seen what happens when the U.S. imposes taxes for Canadian exports when it comes to wood products. It's been an ongoing dispute for a number of years. Here the effect would depend on the magnitude of that border adjustment and what types of other instruments are implemented in place of a carbon tax.