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The Trump administration wants to slap tariffs on $11 billion worth of goods from the European Union — here’s the full list of products th...
The US said the tariff proposal is in response to illegal government support of aircraft maker Airbus and cover everything from sweaters to tweezers.
Harley first warned of a "tremendous cost increase" from European tariffs in a regulatory filing in June. Those tariffs were enacted by the EU in response to a US tax on imported metals, the first shot in the White House's quickly expanding trade war.
On Monday, Harley-Davidson said it “will be implementing a plan to shift production of motorcycles for EU destinations from the US to international facilities." The move comes just as the EU placed tariffs on certain manufactured goods — including motorcycles — in response to new US taxes.
Shares of Harley-Davidson fell more than 2% in early trading Monday after it said new taxes on imported motorcylces will have "signifcant impact" on its bottom line. The company also plans to shift manufacturing of products bound for Europe away from the US.
Harley-Davidson said in March, when Trump first announced Chinese steel and aluminum tariffs, it would see cost increases if the tariffs happened. They happened, and now the EU is tariffed. Even more painful for the motorcycle maker, the eU has retaliated. See what that'll do to the company's sales.