ECB’s Lagarde on Tariffs: ‘Europe’s Main Trading Partner Is Europe’

EXCERPT:

LAGARDE: “You know, Europe’s main trading partner is Europe. So that’s number one, which means lower the internal barriers to make sure that trade really moves around both in goods and services. And services matter enormously. So that’s point number one. Point number two, we have to be attentive to the developments of the relationships between the U.S., the rest of the world, the U.S. and Europe. And we have seen very successive movements, you know, announcement and then a pause and then some exceptions. So, we have to be very attentive. We have to be agile in the way in which we respond. And that agility means that we have to be ready to take action. You know, either we cut, either we pause, but we will be data-dependent to the extreme."