Europe must negotiate better with the U.S., says LVMH
Bernard Arnault -Chairman and CEO of LVMH-, owner of brands such as Louis Vuitton, Christian Dior, Fendi, Givenchy, Loewe, and Kenzo, commented on the impact that trade tensions between the U.S. and the EU could have on the industry.
During the company’s annual shareholders meeting, he proposed that negotiations should not be confined to Brussels alone but should involve more active participation from EU member states, according to the Associated Press.
To avoid tariffs imposed by the U.S. government, Arnault warned that LVMH may be forced to increase production within the U.S. if a strategic agreement is not reached. He noted that the EU has advocated for a mutual tariff elimination pact, so far without success.