For most consumer goods, that brings down the tariff rate to about 8.4 percent, which is a 10 percent drop in tariff revenues and the government cannot afford that.

While taxes will come down, it will be compensated in some way. During the next five years, taxation on imports from India and Pakistan will reduce at the expense of imports from other countries.

(PNTR) will keep our credit relationships stable. Everyone won't have to worry if the tariff rate will be different.

We shopped the world's markets until we dropped. We bought a lot more of everything, including capital and consumer goods, foods and motor vehicles.

Our turnover rate as of May of this year was about 70 percent, which is about 30 percent below the industry standard. We have now gotten our turnover rate down to 40 percent and we feel pretty comfortable it is going to go lower.

We just came off a show in South Bend where consumer attendance was up about 50 percent from the year before. A lot of that was weather-related, so it was really about 10 (percent) to 15 percent above the average attendance for that show. Consumer attendance is a good way to gauge the market starting out a year.