 There's two different narratives that we have competing today about what's happening in global trade. One of those narratives is a globalist perspective about the gains in trade and how those have been dispersed across different regions and how consumption particularly in Asia is driving that growth. The other is a story about reciprocity and fair trade and about how there are imbalances in the global trading system when it comes to market access, tariffs and the like. This is an image here of raw data on US trade deficits. Now I want you to pay attention to two things here. Where we are at the beginning with North America where it's relatively balanced and there's a surplus even with Mexico and notice also with Europe right the balance here and then one other pocket to pay attention to is here within Southeast Asia. So if we skip ahead here this is the viewpoint right that from those in the US elsewhere that says we're all in favor of trade but not when we've been suffered. What I hope you guys will take away from this is a better understanding of the fair trade reciprocity narrative here and so for those who emphasize this fairness reciprocity question right there's a question why has this happened? So if we skip ahead here right this is average applied tariff rates across countries. We play this fork you really don't see very much in terms of the way of unilateral liberalization and the reciprocity story goes something like this right. We're all happy to engage in trade but it has to be a fair bargain and if over the course of time you have higher trade barriers than I do and as you gain greater shares of that you're not lowering them that's not a fair bargain. We know now that we have to accelerate clean low-carbon energy systems, decarbonize big heavy industries and when you look at where the wind exporters have come from the front runners on this were Denmark and Germany and now the major exporters of wind technology have shifted over now to China and Vietnam and that's a market of about 7.5 billion dollars a year. So for 2016 for the first time the big importers of wind technologies weren't in Europe they weren't in the United States or in Australia they moved now to Turkey to Uruguay to Mexico South Africa and others and you're seeing now a next generation of installed wind capacity. I want it then to go very quickly onto solar which is sort of very much similar trend but a much bigger market it's about 52 billion dollars a year. The big big big player on this is China so the average cost of solar photovoltaic has come down about 50% in the last five years and that's where we get back to why do we want to identify goods and services which have an environmental component to it it's in order to make sure that those markets are liberalized so with that in mind looking at the decision earlier this week of the United States to impose a 30% tariff on solar photovoltaic not identifying China specifically but will have an impact on the cost of solar technology. These are absolutely critical global challenges particularly after Paris and the climate agreement and the sustainable development goals we are committed to sustainability because it's a smart business thing to do.