Quantcast
Connect with us

‘So unfair to US’: Trump vows to hit back at EU as tariffs bite Harley-Davidson

Published

on

Donald Trump jokes with reporters after greeting Harley-Davidson executives on the South Lawn of the White House. Photograph: Nicholas Kamm/AFP

US President Donald Trump threatened retribution on Europe Tuesday over tariffs that have bruised profitability at iconic US motorcycle company Harley-Davidson.

Trump  quoted commentary from Fox Business Network anchor Ashley Webster, who pointed to the drag from European Union tariffs as a key factor in falling sales by the iconic US motorcycle maker.

“So unfair to U.S.,” Trump said on Twitter. “We will reciprocate.”

ADVERTISEMENT

The commentary was a pivot of sorts from the US president, in targeting Brussels rather than Wisconsin-based Harley.

He previously lashed out at the 116-year-old company after it announced plans last summer to shift some US manufacturing overseas as a way to circumvent the EU tariffs, which were imposed on key American goods in March 2018 in retaliation for Trump’s tariffs on steel and aluminum.

Trump’s latest threat comes as Washington and Brussels are close to the start of formal trade talks, now that the US leader has moved closer to settling a months-long fight with China.

Harley-Davidson reported a $21 million hit from tariffs in the first quarter, which contributed to the 26.8 percent drop in profits to $127.9 million amid lower revenues.

In June, Harley-Davidson announced it was shifting some manufacturing capacity overseas as “the only sustainable option” following punitive import duties of 31 percent in the EU.

ADVERTISEMENT

The motorcycle manufacturer in January 2018 announced it would close a Missouri factory and consolidate jobs into Pennsylvania at the same time it was building a new factory in Thailand.

The Thailand operation is part of Harley’s “tariff mitigation” strategy aimed at the growing Southeast Asian market, the company said.

“We’re acting with agility and discipline to take full advantage of rapidly evolving global markets,” Chief Executive Matt Levatich said.

ADVERTISEMENT

Harley also is focused on building up a new generation of riders to make up for declines in the older population that has been its bedrock.

The company said it found 278,000 “new riders” in the US in 2018 and that “this group is the most diverse across age, ethnicity and gender in all the years Harley-Davidson has tracked this data.”

ADVERTISEMENT

Shares of Harley-Davidson fell 2.1 percent prior to the open, but later recovered and was up 0.8 percent at midday.


Report typos and corrections to: [email protected].
READ COMMENTS - JOIN THE DISCUSSION
Continue Reading

2020 Election

Trump’s team files fifth demand for Georgia to audit their ballot signatures as their campaign to overturn the election fizzles

Published

on

President Donald Trump's campaign has filed its fifth demand for the state of Georgia to audit the signatures on ballots.

The statement from the Trump team said that the "Georgia secretary of state should perform an immediate audit of the signatures on all absentee ballot applications and absentee ballot envelopes received for the Nov. 3 General Election. The Trump Campaign estimates that between 38,250 and 45,626 illegal votes from absentee ballots alone were cast in the state of Georgia -- far beyond the Biden-Harris ticket's current margin of 12,670 votes."

https://twitter.com/JulesJester/status/1333460202948075526

Continue Reading

Breaking Banner

Supreme Court hearing gets awkward as conservative Alito runs roughshod over chief justice Roberts

Published

on

President Trump is pressing the U.S. Supreme Court to allow him to exclude undocumented immigrants from the census count -- a move that goes against more than 200 years of practice where non-citizen residents, even those in the U.S. illegally, were among those counted.

While questioning New York Solicitor General Barbara Underwood, conservative Justice Samuel Alito said that the prospect of submitting two documents, one detailing census numbers of every person inside the U.S. and another detailing numbers that exclude undocumented immigrants inside the U.S. "seems like a totally meaningless formality."

Continue Reading
 

2020 Election

Legal reporter shocked by Rudy Giuliani’s latest ‘breathtaking claim’ in fight over vote counting

Published

on

Trump attorney Rudy Giuliani held a press event in Arizona on Monday in which he lobbed out more false claims that the 2020 election was "stolen" from President Donald Trump.

Among other things, Giuliani alleged that that Arizona's process for picking its voting machines was "corrupt," even though he acknowledged he had no personal knowledge about how the process worked.

One claim, however, shocked Reuters legal reporter Brad Heath, who said it went beyond anything that Giuliani had argued before.

Continue Reading