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"The Other Multibillionaire Courting Trump"
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"1744793945"
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"The luxury goods industry is heavily impacted by global trade tensions, with LVMH, the largest holding in the sector, drawing a significant share of its revenue from the US market. Bernard Arnault, the CEO of LVMH, has built a relationship with Trump and has been working to stay on his good side, including investing in the US and making key connections with the Trump administration. Despite the challenges, the luxury industry is likely to adapt and find ways to offset the impact of tariffs, including increasing spending by wealthy tourists and leveraging the 'Veblen' effect."
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"content": "nostr:nprofile1qy3hwumn8ghj7un9d3shjtt5v4ehgmn9wshxkwrn9ekxz7t9wgejumn9waesqgxpnjlquxjlqwutc37aq6m2z7l5qe5fpsr7zpqrpx8nqn4c67dcpcm8r6qv\nhttps://images.jacobinmag.com/wp-content/uploads/2025/04/16073515/GettyImages-631336198-900x600.jpg\nOn April 9, Donald Trump reeled in his attack on the global trade system, ordering a ninety-day pause on the steep “reciprocal tariffs” announced one week prior. Targeting many of the United States’ leading trading partners, the so-called “liberation day” tariffs threw financial markets into mayhem and was the object of rare criticism from right-wing [\u0026hellip;]\nhttps://jacobin.com/2025/04/arnault-billionaire-trump-france-trade/",
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