Trump Threatens Harley-Davidson 'Will Be Taxed Like Never Before!'

Harley workers are first casualties in trade war

FBN's Jeff Flock discusses how Harley-Davidson is moving some of its production overseas.

The poster boy of US President Donald Trump's trade war - Harley-Davidson - just embarrassed him by deciding to take part of its manufacturing out of the US.

In his latest Twitter rant targeting the iconic maker of motorcycles, Mr Trump warned: "If they move, watch, it will be the beginning of the end - they surrendered, they quit!" Taxes just a Harley excuse - be patient! Harley-Davidson had announced that it would be closing a plant in Kansas City, and laying off around 800 workers there. "That was long before Tariffs were announced", he wrote. That will make each bike about $2,200 more expensive to export, Harley-Davidson said.

I had Harley-Davidson officials over to the White House, I chided them about tariffs in other countries, like India, being too high.

The American motorcycle maker sells almost 40,000 new motorcycles a year in Europe, which accounts for 16 percent of the company's overall sales and is the biggest market for it outside of the US.

"Surprised that Harley-Davidson, of all companies, would be the first to wave the White Flag", Trump tweeted Monday as he departed for a campaign trip to SC. This happened even as Trump was picking fights on its behalf with every country he could find on the map.

It follows Brussels decision to retaliate against Mr Trump's tariffs.

But last month, the Trump administration slapped the tariffs on allies Mexico, Canada and the European Union, prompting the retaliatory tariffs on US goods.

"A Harley-Davidson should never be built in another country-never!"

In another tweet aimed at Brussels, Mr Trump warned the European Union that the U.S. was close to concluding a study on tariffs on auto imports.

Interestingly, reports from India had speculated that it, too, would impose tariffs on United States motorcycles, but as of press time those additional tariffs had not actually been levied.

Trump remained focused on the most recent round of tariffs, insisting that Europe had "long taken advantage of" the United States, but that: "In the end it will all even out - and it won't take very long!"

Lovely said Harley and other companies face retaliatory tariffs in Europe and elsewhere if they try to export products.

"Trump tweeted ".We are finishing our study of Tariffs on cars from the E.U.in that they have long taken advantage of the U.S.in the form of Trade Barriers and Tariffs.

The move comes against the backdrop of already slumping sales for Harley.

The company estimated the cost for the remainder of 2018 from the tariffs would range from $30 to 45 million.

"Increasing worldwide production to alleviate the European Union tariff burden is not the company's preference, but represents the only sustainable option to make its motorcycles accessible to customers in the European Union and maintain a viable business in Europe", the company said in its prepared remarks.

The firm's stock fell nearly 6% to $41.57 in a turbulent day for U.S. stocks amid concerns of a trade war.

Europe is becoming more important to the company as United States sales slump.

The Dow Jones Industrial Average and S&P 500 closed down more than 1.3% each on Monday.

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