Thank you very much.
Mr. Chairman, auto parts has been the subject of some analysis. Professor Van Biesebroeck, in his study, projected that there would be export gains of 8% to 10% for Canada in the event of an FTA with Korea.
With respect to movements the other way, the huge portion of the parts industry that comprises what we call OE, or original equipment, parts already enters Canada duty free. In terms of our tariffs, what that leaves is the after-market parts segment. In that area, our tariffs average about 8%.
As in many other sectors, we anticipate gains in terms of Canada's exports. Certainly there may be an increase in parts from Korea, but as in many cases, the tariffs will be phased out on a gradual basis over a transition period. Again, I would emphasize that in the case of parts and original equipment parts, they're already entering Canada duty free.