Wednesday, 18 July, 2018

Harley-Davidson may face credit downgrade because of European Union tariffs

Harley-Davidson To Shift Production Overseas To Offset EU Tariffs Harley, stung by tariffs, shifts some production overseas
| 28 June, 2018, 11:26

Despite being a sound business move, President Trump attacked the company in a series of tweets which accused Harley-Davidson of "using tariffs/trade war as an excuse" to move production overseas.

It follows a proposed plan by Harley-Davidson to move some of its production overseas. Companies are now coming back to America.

"Trump added. ".A Harley-Davidson should never be built in another country-never! Trump says that he's "done so much for you, and then this".

Once the news was out, President Trump rushed to Twitter to make his feelings known. Its last quarter sales fell by 12 percent in the US but grew by about 7 percent in multiple continents, including Europe.

The relationship between Trump and Harley-Davidson has gone from a love affair to a bad breakup in a matter of months.

Trump wrote yesterday that Harley "should stay 100 per cent in America", in another missive aimed at a company that announced plans this week to shift production out of the United States to avoid retaliatory tariffs.


"A Harley-Davidson should never be built in another country-never!" he said earlier on Twitter. The EU's tariffs on motorcycles were put in place as a response to Trump's steel and aluminum tariffs.

"We don't want to punish, but that is the unfortunate outcome, that (US companies) will put pressure on the American administration to say hey, hold on a minute, this is not good for the American economy", EU Trade Commissioner Cecilia Malmstrom said at a news briefing. If they move, watch, it will be the beginning of the end - they surrendered, they quit!

"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".

Trump recently imposed steep tariffs on aluminum and steel imported from Canada, Mexico and Europe in his bid to level the trade playing field and reduce trade deficits between the USA and its trade partners. "Now they are trying to use the tariffs to excuse and deflect from that decision. Harley must know that they won't be able to sell back into USA without paying a big tax!"

"We're the bank that everybody wants to steal from and plunder and can't be that way anymore", said the USA president.

Trump says in tweets Tuesday that the company had already announced it was closing a Kansas City plant.

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