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Fashion Network
27 minutes ago
- Fashion Network
LVMH and luxury giants undermine EU pushback on US trade threats
Luxury powerhouse LVMH is at the forefront of quiet corporate diplomacy as the European Union scrambles to respond to looming US tariff threats. With a July deadline approaching, the group is among several major firms pushing for a softer stance in high-level trade talks. Behind closed doors, LVMH and other European multinationals have reportedly urged Brussels and national governments to pursue a compromise over confrontation regarding Donald Trump 's proposed 50% tariffs on EU imports. The luxury sector—deeply reliant on the US market—has become a leading voice advocating de-escalation to safeguard transatlantic business. Executives from companies such as LVMH and Mercedes-Benz are reported to have participated in informal talks with US representatives, urging EU officials to soften their countermeasures. According to sources familiar with the discussions, this included recommendations to exclude iconic American goods—such as bourbon—from the EU's proposed retaliation list. For LVMH, the stakes are particularly high. Chairman Bernard Arnault has cautioned that failure to reach a trade deal could have serious consequences for France's wine and spirits industry. Urging restraint, Arnault has advocated for a cooperative path forward and even floated the idea of a US–EU free trade zone. Arnault, who has maintained longstanding ties with Trump, has reportedly visited Washington multiple times since the former president's return to the political spotlight. His son, Alexandre Arnault, also met with officials in May in support of trade de-escalation. 'I hope to succeed, with my modest means and my contacts, in convincing Europe to adopt the most constructive attitude possible,' Arnault told French lawmakers in May. Luxury isn't the only sector weighing in. German automakers—including BMW, Mercedes-Benz and Volkswagen—have also proposed their own solutions directly to US officials. Mercedes, for instance, has shifted production of its GLC SUV to Alabama, while other firms have announced expanded US investments as diplomatic signals. These moves, though strategic, have raised concerns in Brussels. EU officials fear that an over-accommodating response could encourage companies to increasingly shift production and investment across the Atlantic, weakening Europe's industrial core. Industry leaders contend that reciprocal tariffs would do more harm than good. While retaliation may appear symbolic, it risks reducing EU access to essential US-made technologies, components, and research ecosystems—particularly in high-growth areas such as fashion innovation, AI, and biotechnology. Meanwhile, industry groups representing French Cognac and Irish whiskey producers have intensified lobbying efforts, warning that retaliatory tariffs would unjustly penalize products unrelated to the core trade dispute. These sectors rely heavily on the US and Chinese markets for exports and have become particularly vulnerable to policy crossfire. The European Commission has outlined proposed tariffs on $112 billion worth of US goods. However, pressure from member states and industry groups may lead to as much as €70 billion worth of items being removed from the final list—significantly diluting the EU's leverage. As a potential compromise, the EU is reportedly open to a universal 10% tariff on many of its exports, while seeking lower rates for key sectors, such as aerospace, pharmaceuticals, semiconductors, and luxury goods. With stakes rising, the next few weeks will be critical. For LVMH and other fashion leaders, the hope is that quiet diplomacy will succeed where confrontation may fail—and that maintaining access to the US market remains central to the EU's trade strategy.
Yahoo
27 minutes ago
- Yahoo
Here's how Rep. Marjorie Taylor Greene described support for Trump's ‘big beautiful bill'
As President Donald Trump's 'big beautiful bill' returns to the U.S. House of Representatives after passing by a single vote in the U.S. Senate, one prominent Republican supporter of the president called it a 's***show.' Speaking with Trump ally Steve Bannon on his podcast 'War Room' on Tuesday, U.S. Rep. Marjorie Taylor Greene, R-Ga., said U.S. House Speaker Mike Johnson, R-La., does not have the votes to pass Trump's budget reconciliation bill in the House on Wednesday. 'I can't imagine they have the votes,' Greene told Bannon. 'There's no way that Johnson has the votes in the House for this. We're supposed to be back Wednesday morning to start voting at 9 a.m. I think that is not realistic. I just don't see how that's possible. So this is, I think it's far from over.' She called the situation 'dire,' and added that 'it's hard for us to get to an agreement on anything.' 'It's a s***show,' Greene said. 'And I'm sorry for saying that. I know we're not supposed to say that on the air, but that's really what it is.' Republican lawmakers are working to meet Trump's July 4 deadline in passing the bill before he signs it into law. Three Republicans joined Democrats in voting against the Senate version of the bill, which included cuts to federal spending on Medicaid and Affordable Care Act marketplaces by about $1 trillion over a decade, according to the Congressional Budget Office on Monday. This could leave 12 million more people without health insurance by 2034. With a 50-50 split, Vice President JD Vance cast the tie-breaking vote to pass the bill before it was handed back to the House. Before the Senate vote, Greene didn't back the bill due to a provision that would have placed a moratorium on states regulating AI. In a post on X on Tuesday, she called the provision 'a gift to Big Tech and a disaster for American workers and states' rights.' After voting for the House version last month, Greene previously admitted that she missed the section that 'strips states of the right to make laws or regulate AI for 10 years.' Had she seen it, she said she would have voted no. In a 99-1 vote, senators removed the provision from the bill, which Greene subsequently called a 'huge win for federalism,' The Hill reported. The House Rules Committee is leading the debate on Wednesday on a rule to advance the legislation and consider final passage of the bill, ABC News reported. House Minority Leader Hakeem Jeffries, D-N.Y., told ABC News that all 212 Democrats in the House will vote no on the bill. 'And all we need are four House Republicans to join us in defense of their constituents, who will suffer mightily from this bill,' Jeffries said. All told, the Senate bill includes $4.5 trillion in tax cuts, according to the latest CBO analysis, making permanent Trump's 2017 rates, which would expire at the end of the year if Congress fails to act, while adding the new ones he campaigned on, including no taxes on tips. The Senate package would roll back billions of dollars in green energy tax credits, which Democrats warn will wipe out wind and solar investments nationwide. It would impose $1.2 trillion in cuts, largely to Medicaid and food stamps, by imposing work requirements on able-bodied people, including some parents and older Americans, making sign-up eligibility more stringent and changing federal reimbursements to states. Additionally, the bill would provide a $350 billion infusion for border and national security, including for deportations, some of it paid for with new fees charged to immigrants. The Associated Press contributed to this report. Mass. senators blast Trump settlement with Paramount: 'Bribery in plain sight' Trump's antisemitism probe mostly relies on Harvard's own report, Harvard claims Trump threatens arrest of NYC mayoral candidate during visit to 'Alligator Alcatraz' Mass. has an on-time(ish) state budget: 3 big things to know about the $61B plan Group behind MCAS ballot question broke campaign finance law, state says Read the original article on MassLive.
Yahoo
27 minutes ago
- Yahoo
This Mass. city ranked among the lowest for public restroom access, cleanliness
Easy access to public restrooms affects travelers, commuters, delivery workers and more, yet there's a growing concern of their availability. To better understand the scale of the problem, the health and hygiene brand, Tena, conducted research to find out which U.S. states and cities have the most 'discoverable public bathrooms,' according to the report. The scores for each location were based on four key factors including how discoverability, density, cleanliness and accessibility. The company found that Cranston, Rhode Island, Essex, Vermont and Evansville, Indiana ranked the lowest overall scores. This was because none of them were discoverable on public maps, which cause all locations to score a 0 across all categories. 'While this doesn't necessarily mean there are no public restrooms in these cities, it does highlight the impact of missing or inaccurate tags,' Tena explained. 'It's a reminder of how essential proper listing is for helping people quickly find facilities when they need them.' The Massachusetts city of Worcester didn't fare well either. That city had a discoverability score of 0, an estimated density score of 1, a cleanliness score of 0, and received a 0 in accessible bathrooms. Overall, Massachusetts scored a 7 in discoverability, 3 in estimated density, a 6 in cleanliness and a 4 in accessibility. Other cities that ranked low on the list include: Stamford, Connecticut Bridgeport, Connecticut Meridian, Idaho Lexington, Kentucky Bellevue, Nebraska Wilmington, Delaware Tena also listed some of the top cities when it comes to high quality and quantity public restrooms. Those were Pierre, South Dakota, Helena Montana and Hilo, Hawaii. 'One commonality between these top three cities is their smaller population size: all under 50,000,' the company wrote. 'This may make it easier to identify and tag public bathrooms on map apps compared to larger cities with more complex infrastructures. Still, ensuring visibility in bigger cities remains just as important, given the higher demand and greater number of people navigating public spaces daily.' Other cities that ranked high overall were: San Francisco, California Seattle, Washington Orlando, Florida Harrisburg, Pennsylvania Miami, Florida Honolulu, Hawaii Los Angeles, California. Holyoke say compliance, not interference, is holding up seafood shop project Paul Pierce advises Celtics to keep Tatum-Brown duo amid trade rumors Social media perplexed at Panthers' huge extension for Brad Marchand Mass. weather: Rainy morning commute Tuesday, followed by thunderstorm risk Canton man sentenced to life in prison without parole for killing man in 2018 Read the original article on MassLive.
