The boss of LVMH is sounding the alarm. In an interview with FigaroBernard Arnault believes “essential” that the European Union quickly concluded a trade agreement with the United States, under penalty of serious consequences for European industry. “We cannot afford to blur with the United States,” he warns, calling Brussels to favor a “pragmatic, efficient and friendly” outcome.
While trade tensions on both sides of the Atlantic are increasingly worrying about economic circles, the CEO of the global luxury giant calls for all -wove. “Even if it may seem easily unbalanced, it will be preferable to the standoff,” he insists, judging that a trade conflict would prioritize “European manufacturers, and in particular French entrepreneurs”.
A shadow diplomat
His remarks come at a time when the European Commission says that a compromise with Washington is “at hand”. Bernard Arnault is optimistic, evoking the common will of European leaders to move forward. He salutes the lucidity of Emmanuel Macron, but also that of the German leader Friedrich Merz and the Italian Giorgia Meloni, whom he deems “very aware” of the issues.
Our file on American customs duties
The businessman, whose relations with Donald Trump have been widely commented on, now plays a role of discreet but real influence. Beyond transatlantic tensions, Bernard Arnault also welcomes an advance on the Chinese front. The Cognac sector, whose main markets are China and the United States, has avoided a dreaded increase in customs duties. “This is very important, because the United States and China represent 80 % of the outlets for cognac,” he explains.