The repercussions are huge.
We must pay 45%, whether in taxes or new tariffs. Given the countervailing duties we had, it’s huge. Every 1,000 feet we send to the United States costs us extremely dearly. Furthermore, demand is very low.
In the past, countervailing duties were not as high as they are today. When there was strong demand in the United States, the rates were largely absorbed by the consumer. However, today, demand from the United States is low.
Interest rates remain quite high. For a person who wants to build a house and is applying for a loan from the bank, interest rates are still around 6% or 7%, so people aren’t doing it. There’s one more thing: with rates at 45%, will the consumer absorb an increase of up to 45%? We hope so, but for now, there’s no indication of that.
We’re closely monitoring our liquidities right now. We’re also monitoring our closing costs in terms of profitability. I should talk instead about losses incurred because I don’t think there’s an industry or company making money today in these markets. We need to closely monitor our liquidities.