Billionaire Arnault Urges EU-US Tariff Deal to Help Winegrowers

Sophie Binet was invited to react to Bernard Arnault's comments. LVMH's boss asked the European Union to negotiate "smartly" with the United States on customs duties. The CGT's secretary-general regretted the position of the head of the company.

LVMH, Pernod, other French names in direct fire of U.S.-China trade war

PARIS -- U.S.-China trade tensions are pushing French luxury brands and liquor producers into uncharted territory after weak Chinese demand hit bottom

French billionaire Bernard Arnault, whose group LVMH has champagne brands such as Moët & Chandon and Veuve Clicquot, as well as cognac Hennessy, urged the European Union to reach an agreement with the United States on tariffs to defend winegrowers in the region.Speaking outside the annual shareholders meeting of LVMH Moët Hennessy Louis Vuitton SE in Paris on Thursday, Arnault seemed to suggest that EU leaders are not pushing hard enough to reac…

Billionaire Arnault Urges EU-US Tariff Deal to Help Winegrowers

French billionaire Bernard Arnault, whose group LVMH owns Champagne labels like Moët & Chandon and Veuve Clicquot as well as Hennessy Cognac, called on the European Union to strike a deal with the US on tariffs to defend the region’s winegrowers.

VIDEO - The boss of the luxury company called on European governments to negotiate to reach an agreement with Washington on customs duties.

Bernard Arnault advocates for EU-US trade agreement

Succession plans and changes to the executive committee were also discussed at LVMH’s annual general meeting.