Thank you very much to the presenters for this information and the questions.
I'd like to thank my colleague Manny for bringing this to the trade committee for us to delve into. It certainly is interesting.
I'm from Sault Ste. Marie. We have Algoma Steel and Tenaris tubes there. Algoma Steel has decided, along with a lot of the Canadian steel producers—I'm co-chair of the all-party steel caucus—to decarbonize and to go from a coal process to an electric arc. In the Soo, they're going to reduce their emissions by 70%. It's like taking one million cars off the road, gas-powered cars. I've been hearing not just from the steel producers, but from the unions, United Steelworkers, about how China, for instance, can produce their steel so cheaply, not just because of poor labour practices, to say the least, but because they use dirty coal. Basically, it's the Wild West, without any regulations as it relates to the environment, which creates that cheap, unfairly traded steel.
How would a CBAM...? I'm going to delve into it a bit further, because, even without the CBAM, we've placed a 25% tariff on Chinese steel and aluminum—and 100% on electric vehicles, but I'll stay on steel and aluminum. How would a CBAM go hand in glove with the 25% tariff, in your mind?