Bernard Arnault, the Chairman and CEO of LVMH, has called for the establishment of a free trade zone between the European Union and the United States. His comments, made at LVMH's annual shareholder meeting on April 17, 2025, come amid ongoing trade tensions that could potentially harm European industries.
Arnault emphasized the need for European leaders to negotiate effectively with the U.S. administration, suggesting that national governments should play a more active role rather than leaving negotiations solely to Brussels, which he described as a "bureaucratic power." He also echoed Elon Musk's call for a zero-tariff zone between the U.S. and EU.
Arnault warned that if the EU and US fail to reach an agreement, higher tariffs could push LVMH and other European companies to move operations to the United States. He also criticized proposed corporate tax increases in France, suggesting they could drive companies to relocate, and praised the U.S. model for its lower taxes and state-backed industrial investments.