Lately I often sound negative and for thatI apologize. This...

Lately I often sound negative and for that
I apologize. This tariff action by Biden will
be the first punch of a one two three combination.

The second punch is increasingly likely
to be the election of Trump. There is one
action he will take immediately upon his election.
He will reenergize the oil and gas industry and do
whatever else is necessary to get the price at the
pump down. This will impact U.S. EV sales.

The third punch will be European tariffs. The European
car manufacturers do not want to compete against
Chinese products and are already beginning to howl
in protest.

Unquestionably, the ROW is a really big market, but
for the most part it is a poor one.

As with many others here, I have reduced my
position in this company substantially. I just
don't trust the Communist Chinese.