Bernard Arnault, CEO of the luxury LVMH number one in the world, defends the agreement concluded on customs duties between the United States and Europe, which is not “perfect” but that was “necessary” in the “current context”, on a platform published by the newspaper Les Echos on Tuesday.
“The agreement reached (Sunday) between the European Union and the United States awakens criticism (…) I want to remember, as manager of a European company, that a dead end,” he judges the billionaire.
“It was not Europe who requested this agreement”, but “face a partner capable of getting rid of the existing rules, it was necessary to maintain, without causing a break,” said the CEO of LVMH, owner of Louis Vuitton, Dior and Celine, as well as the Les ectos newspaper.
However, it finds “harmful” that wines and spirits, massively exported from France and the EU to the United States, “are not included in this agreement.”
His group achieved almost 7% of his turnover in wines and spirits in the first half of 2025, particularly thanks to the Moët & Chandon champagnes and Cognac Hennessy.
“It became a diplomat”
President Donald Trump and the president of the European Commission, Ursula von der Leyen, announced on Sunday in Scotland a customs agreement that establishes that European products exported to the United States are subject to 15%.
With the hope of avoiding a commercial escalation, the EU has also been involved at $ 750 billion in energy purchases, especially with the aim of replacing Russian gas, and 600 billion additional investments in the United States.
Emmanuel Macron had not yet reacted these ads on Tuesday, but Prime Minister François Bayrou spoke on Monday a “dark day” for Europe, which according to him “is resolved to submission.”
In June, Bernard Arnault’s son, Antoine Arnault, had fun with his father’s privileged relationship with Donald Trump, whom he met for a long time.
Source: BFM TV
