Christine Lagarde, the President of the European Central Bank, emphasized the importance of not easing up on inflation due to the uncertainty created by the US administration's trade policies. She described it as a continuous challenge that requires vigilance to maintain the current progress made towards the inflation target of 2%. Despite interest rate cuts made in the past, the upcoming decision on April 17 remains uncertain, especially with President Trump's impending announcement on reciprocal tariffs. Lagarde highlighted the need for a deliberate approach in reaching the inflation target, acknowledging various opinions on the pace of progress. Regarding trade policies, she expressed concerns about the negative impact of Trump's measures on the global economy, emphasizing that everyone stands to lose in a trade war. Lagarde also noted this as an opportunity for Europe to move towards greater independence in defense, energy, and finance in response to the changing geopolitical and geoeconomic landscape influenced by the US administration's decisions.