Trump revs up attacks on Harley-Davidson over production move
28 June, 2018, 11:21
The company became aware of the fake quote Tuesday night and was soon fielding questions about it. The Aura will be gone and they will be taxed like never before!
In a series of caustic early-morning tweets Trump dismissed any notion that his policies were responsible for Harley-Davidson's move.
Trump offered no clarity later in the day when he was asked about tariffs during a White House photo-op with Congress members. Of course, Trump had something to Tweet about it and chose to make his opinion public. the president had a lot to say about it.
Harley-Davidson should stay 100% in America, with the people that got you your success.
The president has held up the motorcycle maker as an example of a US business harmed by trade barriers in other countries.
The company said it would absorb a near-term financial hit of $30 million to $45 million in order to not raise prices in the European Union during the transition. Mr. Trump knows nothing about economics and even less about trade. But those trade partners feel insulted by Trump and have chose to retaliate.
Once the news was out, President Trump rushed to Twitter to make his feelings known.
Harley said Monday it's moving the production of motorcycles destined for Europe to factories in Thailand, India and Brazil in response to the European Union slapping a 31 percent tariff on motorcycles made in the U.S. "Hence, they were just using Tariffs/Trade War as an excuse", he said. "Shows how unbalanced & unfair trade is, but we will fix it".
Harley-Davidson executives met with President Trump at the White House a year ago after President Trump canceled a visit to the company's headquarters in Milwaukee because protests had been planned.
Harley-Davidson spokesman Michael Pflughoeft declined to comment on the president's tweet. An unidentified official had said that the United States would collect $241 million (Rs 1,650 crore) worth of duties by hiking tariffs on certain steel and aluminium items from India.
Trump added that the administration is finishing a study on imposing tariffs on cars from the EU.
"These worldwide facilities exist to support more competitive pricing by eliminating much of the tax and tariff burden imposed on fully assembled Harley-Davidson motorcycles imported into key global markets".
It was unclear what taxes Trump was referring to, and why the company might have to pay them, since it will maintain production in the United States for US customers. If they move, watch it, it will be the beginning of the end.
Rising trade tensions and retaliatory tariffs could pose serious risks for Harley-Davidson, rating agency Moody's said on Tuesday.
"Surprised that Harley-Davidson, of all companies, would be the first to wave the White Flag".
USA companies that range from boat-builders to nail manufacturers have warned about the consequences of escalating trade tensions. Harley-Davidson is an American company originally founded in Milwaukee, Wisconsin, by two friends working out of a backyard.
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