Trump threatens European Union with retaliation over ‘unfair’ tariffs on Harley-Davidson

Daniel Fowler
Апреля 24, 2019

Last year, Trump frequently criticized Harley-Davidson for its plans to move some US production overseas to avoid European Union duties, which were imposed in retaliation to tariffs the White House placed on imported steel and aluminum last year.

At the time, Harley-Davidson, which has to make the purchase of steel overseas, vowed to relocate production of motorbikes intended for Europe abroad to escape the European Union import duties introduced in reaction to Trump's tariffs on metals.

The logo of US motorcycle company Harley-Davidson is seen on one of their models at a shop in Paris, France, August 16, 2018.

"Harley-Davidson's USA market share growth and retail sales performance in the first quarter are further evidence of the effects we are having as we continue to implement and dial-in our More Roads efforts". The company has been absorbing much of the costs of higher steel and aluminum prices due to the tariffs and previously estimated that foreign tariffs could cost it up to $100 million a year.

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.

It came as the motorcycle maker this morning posed results for the first quarter of the year, showing profit down 26.7 per cent year-on-year.

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The company said it found 278,000 "new riders" in the United States 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".

FILE PHOTO: American motorcycle manufacturer Harley-Davidson's signboard is pictured at its branch in Tokyo, Japan August 13, 2018. "Most other companies are coming in our direction, including Harley competitors".

US retail motorcycle sales, or sales by dealers to customers, fell 4.2 per cent in the first quarter ended March. 31. "And nothing has changed since the European Union increased the import tariff from 6 percent to 31 percent last June".

The company also posted profit for the first quarter that was more than 30 cents per share ahead of expectations, but added there has still been declines in sales.

The company's first quarter net income was reported as $ 127.9 million, down from $ 174.8 million in the same period of 2018, while the consolidated revenue was $ 1.38 billion in the first quarter of this year, compared to $ 1.54 billion in the first quarter of 2018.

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