PARIS (Reuters)-Bernard Arnault, CEO of the luxury giant LVMH, judged on Wednesday that the European Union was not constructive enough in its commercial negotiations with the United States to counter the threat of customs duties agitated by US President Donald Trump.
Harranty within the framework of a Senate commission of inquiry into public aid to large companies, Bernard Arnault said they feared that the first discussions between Europeans and Americans are “relatively badly left”, inviting the EU to follow the example of the United Kingdom which concluded in early May an agreement with the United States to lighten certain American customs rights.
“I hope to convince, with my little means and my contacts, Europe to take such a constructive attitude” as the United Kingdom, he said, believing that “the English” had “very well negotiated”.
“It is very important to manage to find, for Europe, an agreement with the United States and I would say that until today, it seems to me relatively badly gone,” he added.
“I think that negotiations, it must be carried out constructively, it must be carried out to succeed and therefore with reciprocal concessions,” continued the CEO of LVMH.
The leader of the luxury giant thus wishes to defend the interests of his group, and in particular his branch dedicated to spirits.
“France must obviously help this. For France, the risk is major, in particular for cognac and champagne,” he said.
(Report by Florence Lève, edited by Bertrand Boucey)
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