Saturday, 22 September, 2018

Harley-Davidson to shift production overseas as European Union tariffs bite

Harley-Davidson to move production for some motorcycles out of US after EU tariffs Getty Images
Elsie Buchanan | 26 June, 2018, 13:51

On Saturday, the European Union began to tax early $3.3 billion worth of imports from the USA, including Harley-Davidson motorcycles, in response to the Trump administration's 25 and 10 percent tariffs on steel and aluminum, respectively, imposed in late May.

"Harley-Davidson believes the tremendous cost increase, if passed onto its dealers and retail customers, would have an immediate and lasting detrimental impact to its business", the company said.

The famed motorcycle maker said in a regulatory filing Monday that European Union tariffs on its motorcycles exported from the USA jumped from 6 percent to 31 percent.

The European Union imposed tariffs on a range of US products in response to similar levies that President Donald Trump put on steel and aluminum from Europe.

According to Bloomberg, the growing trade war between Europe and the States is costing Harley-a company The Donald held up as a pinnacle of American Manufacturing just a short year ago-upwards of $100 million US dollars a year. That increases the costs for companies to bring the parts they need into the United States to complete their products.

While Trump has repeatedly claimed that the USA can win trade wars, victims are starting to pile up at home and overseas.

Donald Trump is not happy with Harley-Davidson after the company announced it would be moving production of some of its motorcycles from the United States.

Not only is this going to probably cost Americans jobs, but it's also going to put a real crimp in Harley's whole "Made in America" thing.

Europe represents Harley's No. 2 market, after the United States, with sales a year ago approaching 40,000 units.

Hamilton gets more powerful engine for France
He eventually pitted after 33 laps and came out behind Raikkonen, who led him by three seconds with Verstappen third. Fernando Alonso , who won the 24 Hours of Le Mans just last weekend, found himself classified 16th in the race.


Harley-Davidson's stock, and the Dow Jones as a whole, dipped Monday morning as trade-war fears mounted.

Harley-Davidson expects ramping-up production in global plants will require investment and will take at least 9 to 18 months to be fully complete.

In the name of protecting American jobs, Trump has imposed tariffs on steel and other products coming from China, Europe, and other countries.

"In the near-term, the company will bear the significant impact resulting from these tariffs, and the company estimates the incremental cost for the remainder of 2018 to be approximately $30 to $45 million", Harley said in the filing.

Harley-Davidson has plans to open another facility in Thailand for the same reason.

And U.S. companies are starting to see some of the less desirable consequences. With the European Union tariffs applied, the average cost of a bike faces an increase of around $2,200, it's calculated. He has events that day in Milwaukee, where Harley-Davidson has its headquarters, and Mount Pleasant.

Harley-Davidson said in a statement: 'Harley-Davidson maintains a strong commitment to US-based manufacturing which is valued by riders globally.

The company reported $5.65 billion in revenues a year ago and Europe is its largest overseas market, with nearly 40,000 customers buying motorcycles there in 2017. The president had hosted company executives at the White House and repeatedly praised the company for building its motorcycles in America.

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