Incoterms

So it's something that I've been really thinking about over the last, I guess, two years.

And in my line of work, we have something called Incoterms, which are unbelievably boring.

But when a shipment is shipped from one country to another, there's a term of sale.

And in certain situations, you can either add or deduct costs.

We have a lot of the same topologies, inbound and outbound, whether it's stuff that Brent and I have seen with anti-corruption work in the past in terms of agents, whether it's export controls diversion or sanctions evasion or now tariff evasion.

A lot of times it's the same type of, let's say, bad ideas of... routing things through a transshipment hub, using third parties, playing around with the Incoterms, things like that.

The fundamental mistake that a lot of people make is that they think that the purpose of those laws is to impose some kind of marginal economic inconvenience because someone has to set up a front company in a third country now.

No, the national security purposes of these laws, the government broadcasts when it adopts them, is really serious.

We have a lot of the same topologies, inbound and outbound, whether it's stuff that Brent and I have seen with anti-corruption work in the past in terms of agents, whether it's export controls diversion or sanctions evasion or now tariff evasion.

A lot of times it's the same type of, let's say, bad ideas of... routing things through a transshipment hub, using third parties, playing around with the Incoterms, things like that.

The fundamental mistake that a lot of people make is that they think that the purpose of those laws is to impose some kind of marginal economic inconvenience because someone has to set up a front company in a third country now.

No, the national security purposes of these laws, the government broadcasts when it adopts them, is really serious.

Uh-huh.

Um, but I remember even things like Incoterms-

Yeah

... just being like, "Oh my God, this is so complicated."