LVMH boss criticises EU efforts to reduce Donald Trump’s tariffs

LVMH CEO Bernard Arnault criticized the EU’s negotiations with the US over tariffs, stating they have started poorly compared to the UK’s swift trade deal with Washington. He emphasized the importance of a constructive agreement, particularly for Europe’s luxury sector, which faces challenges from tariffs and declining sales in major markets like the US and China. Arnault warned that failure to secure a deal could have catastrophic consequences for the European economy, especially for industries like cognac, which employs many people in France.

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