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Harley Davidson shares fall; Trump supports boycott of bike maker

Harley Davidson shares fall; Trump supports boycott of bike maker

He also mentioned that there are more other companies including the competitors of Harley planning to move to the United States and it is a really bad move from Harley.

To recap, the president is cheering on Americans who want to boycott a brand founded in Milwaukee in 1903.

The spat between Trump and Harley-Davidson began in June, when the company announced it would move production for foreign sales to Europe to avoid European Union tariffs on steel and aluminum - which were imposed as retaliation for the USA penalties. Wedbush set a $44.00 price target on shares of Harley-Davidson and gave the company a "hold" rating in a research note on Wednesday, April 11th.

Mr Trump sent the tweet from his golf resort in Bedminster, New Jersey, where he hosted members of "Bikers for Trump" on Saturday afternoon.

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His view changed when the firm's leaders announced this summer that they would use overseas facilities for production of bikes headed for sale in Europe.

Despite the clear reasoning behind Harley Davidson's plans, Trump has turned on the U.S. brand and said he supports a boycott of the business. Tammy Baldwin Sunday tweeted that Trump, "can not run our economy with Tweets". "It's called 'Bikers for Trump".

The iconic manufacturer, known historically for being made in America, said it's planning to shift the production of motorcycles to overseas factories, after the European Union raised tariffs on the company's motorcycles in June to 31 percent from 6 percent as a countermeasure to Trump's tariffs on steel and aluminum. Still, he vowed earlier this month to move forward with tariffs as a central feature of his economic policy, denigrating his critics as "fools".

Wisconsin Democratic U.S. Sen.

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"We just deal with what we have to deal with; we are not a political organization".

The head of state noted that people who are owners of Harley-Davidson, intend to boycott the company if it will transfer its production overseas.

"We expect this plan will result in an engaged, expanded Harley-Davidson community with a more diverse rider base, along with industry-leading margins and cash flow", Harley-Davidson CEO Matt Levatich said in a statement in June.

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