Bernard Arnault, CEO of LVMH, highlighted his company's strong start to the year before facing challenges due to U.S. tariffs and global trade tensions. Speaking at the LVMH annual meeting, he expressed that the onus is now on European politicians to engage in amicable discussions with President Trump to avoid further issues. Arnault warned that failure to resolve trade disputes would push LVMH to adjust its production strategy. Additionally, he suggested establishing a free-trade zone between Europe and the U.S. to alleviate the ongoing economic strains affecting businesses.
Mr. Arnault emphasized the significant challenge posed by potential customs duties and the need for European leaders to negotiate amicably with President Trump, stating, "Now, it was up to European leaders to resolve the trade war with Mr. Trump amicably. Any failure would be the fault of Brussels."
He echoed thoughts from key advisors by suggesting the need for a free-trade zone between Europe and the U.S., particularly for the luxury goods sector, highlighting, "I called on European politicians to press for the creation of a free-trade zone between Europe and the United States."
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