I think the statistics are pretty clear that we import more manufactured goods from Japan than we export. But I'm not sure that I would accept the thesis that it's all raw materials and low-value products. There are a lot of high-value products within the resource sectors that are going to Japan, and the percentage of our exports to Japan that are in high-valued manufactured and processed goods is actually growing as well. It's entirely possible that trend would be accelerated in the context of free trade.
On May 1st, 2012. See this statement in context.