As a consultant, how do you advise clients in such volatility?

The first thing that we do, w- we don't just look at manufacturing in the US.

We're doing a lot of nearshoring to Mexico, for example.

We look at the worldwide environment.

But the first thing we do is to look at the bill of materials in manufacturing.

Each, when you're manufacturing a product, you have a whole list of things that go into that product.

And if more than 50% of the mil- materials in is labor, so at the, more than 50% of the cost of manufacturing is labor and the other 50% is raw materials, for example, then you have to look for a low-cost environment.

So what are the most common ways outsourcing relationships break down that you see? Wh- when, where do you see the sort of the risks getting, getting worse in, you know, the curr- current [laughs] difficult environment?

Can you just kind of give us an example of what that looks like?

I'm glad you asked that question because a lot of companies miss half of what they should be doing.

On the one hand, people get excited, you know, we're going to build a new factory in Pittsburgh or something like that.

And planning for that factory, planning for the equipment that's going to be needed, planning for redeveloping supply base.

But they forget there's the whole other part, which is moving the production out of a foreign country.

China, I spent lots and lots of time in China helping set up factories there.

And I can tell you, trying to get out of a factory environment in China is no easy task.

One thing I've always been trying to tease out, and I'm sure that the audience is curious about as well, is how much of these trends were playing out before the Trump administration and the tariffs? And how much have the tariff threats contributed to companies wanting to set up base here in the United States?