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ECB President Christine Lagarde said U.S. tariffs are unlikely to be revisited anytime soon, tempering hopes for quick relief on trade measures affecting euro-area exporters. She added that the U.S. midterm elections could eventually shift tariff policy, but any change would take time to materialize. The remarks signal the ECB expects trade barriers to remain a persistent drag on growth and inflation outlooks rather than a transient shock. Investors should watch the ECB's upcoming staff projections and policy commentary for how sustained tariffs feed into rate decisions.

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Christine Lagarde, European Central Bank, United States