LV boss rarely "bombards" the EU: Negotiation "starts too poorly," learn from the UK, concessions should be made when necessary

Global luxury goods giant LVMH's head Bernard Arnault has rarely expressed dissatisfaction with the progress of tariff negotiations between Europe and the United States.

On Wednesday, Bernard Arnault openly criticized the EU-U.S. negotiations as "starting poorly" during a hearing in the French Parliament. He urged the EU to engage in "constructive" negotiations with the Trump administration and specifically pointed out the successful case of the UK quickly reaching a trade agreement with Washington.

Bernard Arnault stated,

Negotiations must proceed in a constructive manner... Both sides need to make concessions. You see how the British are doing it; they are negotiating very well. I hope that with my limited resources and network, I can persuade Europe to take the same constructive stance.

The luxury goods giant believes that the U.S. is the largest market globally, and reaching an agreement with America is crucial for Europe. "At the moment, I think the negotiations are starting relatively poorly."

Arnault has a personal relationship with Trump, having known him for decades, and he attended Trump's presidential inauguration in January.

By market capitalization, LVMH is one of the largest companies in Europe. With the luxury goods industry already facing a slowdown in sales, tariffs could further impact the industry's sales.

Refusal to Compromise, Slow Progress in EU-U.S. Negotiations

On May 21, Wednesday, Eastern Time, media reports citing informed sources indicated that the EU is expected to share a revised trade proposal with the U.S., and both sides will continue to discuss these proposals, aiming for a political-level meeting in early next month.

However, progress in EU-U.S. negotiations remains very slow. Sabine Weyand, the EU's top trade official, stated in a briefing to EU member state ambassadors that the EU should not succumb to the U.S. desire for a "quick win."

Previously, the EU had also made it clear that it would not accept a tariff compromise similar to that between the U.S. and the UK. The EU's trade ministers explicitly stated that the recent agreement between the U.S. and the UK to retain a 10% tariff is not a template for the EU.

Faced with a prolonged stalemate, the Trump administration has pressured the EU. Reports indicate that U.S. Trade Representative Jamieson Greer privately warned European diplomats that if Brussels continues to refuse to provide a written proposal, the EU should be prepared for the possibility of Trump fully restoring tariffs on April 2.

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