Bernard Arnault, Chairman and CEO of LVMH Moet Hennessy Louis Vuitton, speaks during the annual shareholders meeting of LVMH Moet Hennessy Louis Vuitton in Paris, France, April 17, 2025.
Gonzalo Fuentes | Reuters
The European Union must soften its stance toward U.S. PresidentDonald Trump’strade demands and negotiate a deal to avoidtariffsand protect European jobs,LVMHCEO and Chairman Bernard Arnault said on Wednesday.
Talks between Brussels and Washington should be handled “with the aim to succeed and therefore with reciprocal concessions,” Arnault said. “For now, I am under the impression it’s not going well.”
Speaking to French senators during a parliamentary hearing, Arnault said he was actively lobbying to avoid tariffs, citing his group’scognac and wine businessas particularly impacted by the trade tensions.
“You see what the British have done, they have negotiated very well. Using my modest means and contacts, I hope I will manage to convince Europe to adopt a similarly constructive attitude”, Arnault said.
Britainearlier this month struck a deal that would improveaccess for the worst-hit sectors, rather than pursuing a wider agreement.
Arnault did not comment further when asked by lawmakers about his direct talks with Trump and a recent visit to the White House.
The United States isLVMH’s most important market, accounting for 25% of annual sales.
About The Author
