I'm sorry, but we're going to have to cut you off. We're two and half minutes over already, and we have two other witnesses to hear.
Thank you for your time.
Sorry if I wasn't clear at the beginning. We have to try to keep these opening remarks to 10 minutes, because we have a number of members who wish to ask questions.
I'll proceed now to Washington, and we will hear from Jeffrey Schott, who is a senior fellow at the Peterson Institute for International Economics.
Mr. Schott.