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.
Speaking on the sidelines of LVMH Moët Hennessy Louis Vuitton SE 's annual shareholders meeting in Paris Thursday, Arnault seemed to suggest that EU leaders weren't pushing hard enough for an accord. The EU and US have made scant progress bridging trade differences this week. Officials from President Donald Trump's administration indicated that the bulk of the US tariffs imposed on the bloc will not be removed, while providing little clarity on their goals for the negotiations, Bloomberg reported earlier.
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