Thank you.
I thank the witnesses for being here.
Thank you for your reports.
I'd like to explore a bit about the economic and fiscal update of June 2026, specifically around the notion that, in your words, “Net exports are projected to remain a persistent drag”, given the situation we find ourselves in, particularly with the unjustified tariffs being levied against Canada and many other countries, of course, around the world.
What would happen if there were to be even a partial tariff rollback by the U.S. over the course of the coming quarter or two? What would the impact of that be on our fiscal outlook?