Harley Davidson Hit HARD By Trump Tariffs!

Harley-Davidson blamed European taxes on imports of its gas-guzzling hogs for a 27% drop in profits in the first quarter, prompting Donald Trump to vow
retaliation against the EU.

“So unfair to US. We will reciprocate!” the president tweeted.

Related: Harley-Davidson lovers in Milwaukee discuss Trump, tariffs … and time

Trump’s support comes after he called for a boycott of the motorcycle company following its decision to move some production to Thailand – a move the
company said was necessary to cut costs after the EU slapped tariffs on Harley in retaliation for Trump’s tariffs on steel and aluminum imports.

In a conference call on Tuesday, Harley chief executive Matt Levatich confirmed the company’s performance had been hit by tariffs, both in terms of imported
raw materials and on European sales. Tariffs on Harley’s motorcycles have jumped from 6% to 31% and are scheduled to rise again to 56% in June 2021.

“The big impact for us is European Union tariffs,” Levatich said. He added that Harley could not afford its growth potential in Europe to be “hamstrung by
incremental tariffs” and described the situation as “unfortunate”.

Levatich went on: “We’re pursuing our strategy to get to the European marketplace through our international manufacturing footprint. Clearly this is an
imperative for us as a business and we’ll continue to execute that strategy unless or until circumstances change.”

Levatich said European sales were down 8.1%, while sales to the UK had declined by double digits – a drop he blamed on consumer uncertainty around Brexit.

https://www.yahoo.com/news/trump-makes-u-turn-support-153426638.html