Economy

Trump Attacks Harley-Davidson for Moving Production Overseas

Trump Attacks Harley-Davidson for Moving Production Overseas

The president has held up the iconic American motorcycle maker as an example of a USA business harmed by trade barriers in other countries, but Harley-Davidson had warned that tariffs could negatively impact its sales. "Their employees and customers are already very angry at them", Trump said on Twitter, without providing any evidence.

Harley Davidson is set to begin shifting the production of motorcycles meant for Europe from the United States to factories overseas. I fought hard for them and ultimately they will not pay tariffs selling into the European Union, which has hurt us badly on trade, down $151 Billion. The company announced on Monday that European Union tariffs on its motorcycles have jumped between 6% and 31%, resulting in an average increase of $2,200 per exported motorcycle.

"Harley-Davidson maintains a strong commitment to USA -based manufacturing which is valued by riders globally", it said in response to the production news. "I think the people that ride Harleys are not happy with Harley-Davidson, and I wouldn't be either", he said at the White House.

However, Reuters reports that this change only affects motorcycles being sold to Europe, bypassing the European Union tariff on American-made goods.

Consequently, EU tariffs on Harley-Davidson motorcycles exported from the USA have increased from 6% to 31%.

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In January, the company announced the closure of a plant in Kansas City, Missouri, after its motorcycle shipments fell to their lowest level in six years. "That was long before Tariffs were announced", he wrote.

Trump, however, deflected blame today via a tweet, citing taxes as being nothing more than an excuse on the part of Harley Davidson. Harleys sold in America will continue to be made in America.

President Donald Trump not long ago held up Harley-Davidson as everything that was right about American manufacturing. The company maintains facilities in Brazil, India and Thailand where it completes assembly of motorcycles for sales in those and other markets.

Those penalties - which Harley-Davidson estimates may cost it as much as $100 million annually - were in response to USA levies on steel and aluminum imported from the EU.

Europe implemented tariffs on the imports of U.S. goods, including motorbikes and bourbon, in response to Donald Trump's tariffs on steel and aluminium.

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Shares of Milwaukee-based Harley-Davidson fell 46 cents, or 1.1 percent, to $41.11 on Tuesday.

Tariffs levied against the U.S. in response to its own escalations against foreign cars could cost Harley-Davidson big time, and it's prepared to do what it can to minimize the effect.

Harley-Davidson will not raise its prices to avert "an immediate and lasting detrimental impact" on sales in Europe, it said. Steel would incur a 25-percent tariff, while aluminum imports would see a 10-percent tariff.

I was actually reminded of something former President Joe Biden said back in 2008. President Trump blasted the company for using the tariffs as an excuse. Harley executives previously said price increases from the steel and aluminum tariffs could add up to $20 million in raw material costs this year. The EU has responded in kind, levying a tariff on several American products. We are opening up closed markets and expanding our footprint.

In the filing, the motorcycle maker stressed that increasing global production to alleviate the burden of tariffs was not the company preference. At a briefing Monday, press secretary Sarah Huckabee Sanders said Trump was trying to undo years of trade restrictions imposed on the United States by other countries.

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Gov. Scott Walker echoed those comments, saying increasing markets for Wisconsin and American-made goods will reduce the trade imbalance and needs for tariffs.


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