And to punctuate that, there's already a significant legal cost. Your leader in British Columbia remarked the other day that she didn't want to be paying lawyers on softwood lumber. Well, the country has been paying a lot of lawyers a lot of money. They represent the provincial governments and the federal government in this arbitration. It's a lot of money. You ought to look up some of those numbers. You haven't escaped legal costs.
As to the consequence of a termination, first you should know that the coalition in the United States asked, almost a year ago—last August—to terminate the agreement. The Bush administration refused. It's expected that sometime in the near future they will ask again and that the Obama administration will not refuse. So this agreement is going to be terminated, sooner or later, by somebody.
The issue has been the peace clause in the agreement. Would it mean that trade restrictions would be imposed right away? If the United States terminates the agreement according to the agreement, then there's a peace clause for a year. If the Canadians were to terminate, there would be no peace clause. But if the United States were to terminate on the basis of a breach, then the peace clause no longer would apply. That's what we expect the coalition will ask the government to do, so you would see an action right away anyway.
Your biggest problem is that to get into the U.S. market, paying 15% tax, you're all dumping—probably at significant margins. So you face a new hurdle, because on October 12, when this agreement was entered into force, you were paying less than 11%, not 15%--even before the court ruled. Now you have a problem of high dumping margins, but there's a bigger problem, which is that your market share is now only 29%. The International Trade Commission had found no injury caused by Canadian imports into the United States at 34%. Therefore, even if you're dumping at high margins, it will be very hard for the coalition to make a case that you're causing injury. Without injury, there are no tariffs to be applied.
So the answer can't be complete. You'd have to test it. But it's possible that you would return to free trade.