Consumer
Luxury Magnate Arnault Urges France to Follow US Spending Cuts
- French luxury magnate attended Trump’s inauguration last week
- France needs to emulate Elon Musk’s DOGE efforts: Arnault
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Bernard Arnault said a wind of optimism is blowing through the US after Donald Trump’s inauguration as president, in contrast to his native France, where the government is seeking to raise corporate taxes instead of cutting spending.
“There’s a different mood” between the two countries, the French billionaire told reporters Tuesday on the sidelines of LVMH’s annual results, at one point comparing his return to France to a cold shower.