Here's Why Trump Tweeted About Harley-Davidson's Plant In Kansas City

Europe is Harley-Davidson’s second biggest market after the US. The company reported $521.8 million in earnings in 2017 on $5.6 billion in revenue

Europe is Harley-Davidson’s second biggest market after the US. The company reported $521.8 million in earnings in 2017 on $5.6 billion in revenue

President Donald Trump attacked Harley-Davidson for moving some production overseas, suggesting Monday that the US motorcycle maker was being disloyal in Trump's trade war with the European Union.

Last year, Harley-Davidson announced it would build a plant in Thailand after Trump pulled out of the Trans Pacific Partnership (TPP) trade deal, which would have abolished tariffs on their motorcycles across 40 percent of the world's economy.

Tuesday for its plan to relocate some of its production overseas by accusing the company of misleadingly using tariffs "as an excuse", and threatened to tax the company "like never before" on any of those motorcycles it tries to sell in the United States.

Harley shares fell 1.3% in early trading Tuesday in NY after tumbling 6% Monday, the biggest drop in nearly five months. "They must play fair or they will pay tariffs!" "Hence, they were just using Tariffs/Trade War as an excuse", he said. The EU tariffs on $3.4 billion worth of USA products are retaliation for duties the Trump administration is imposing on European steel and aluminum. The EU's tariffs retaliating against American steel and aluminum tariffs will reportedly cost the MoCo around $2,200 per bike shipped to Europe.

Harley's entry-level bike in France now costs 7,490 euros ($8,766). "Harley must know that they won't be able to sell back into US without paying a big tax!"

In a regulatory filing on Monday, Harley-Davidson said the retaliatory measures had raised duties on US-made motorcycles from 6 percent to 31 percent.

Naturally, Trump felt betrayed and took to his favourite mouthpiece - Twitter - to express his ire.

The EU's levies are only the latest blowback Harley has faced from Trump's trade policies.

"The EU is attempting to punish USA workers with unfair and discriminatory trade policies, and President Trump will continue to push for free, fair and reciprocal trade and hopes that the EU will join us in that", Sanders said.

Trump has previously cited the motorcycle maker as an example of a US company hurt by foreign trade barriers.

Mr Trump says the duties are necessary to protect the U.S. steel and aluminium industries, which are vital to national security.

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On Tuesday, he doubled down on his assertion that he could "fix" the situation and Brussels would eventually drop its tariffs to avoid his threat of USA duties on cars, saying on Twitter that "We are finishing our study of tariffs on cars from the European Union".

Harley has been aiming to boost overseas sales of its motorcycles to 50 percent of annual volume from about 43 percent.

Harley-Davidson had long planned to open a new plant in Thailand, a decision that pre-dated the escalating trade war between Trump and leaders of a number of other countries.

About 16 percent of the Milwaukee-based company's revenue comes from European sales, which reached almost 40,000 units in 2017.

"Don't take on Harley". The company maintains facilities in Brazil, India and Thailand where it completes assembly of motorcycles for sales in those and other markets. The EU's tariffs on motorcycles were put in place as a response to Trump's steel and aluminum tariffs.

"Increasing global 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 filing said.

What did Harley-Davidson say again?

CFRA Research lowered its 12-month price target for the stock to $47 from $49.

"Thank you, Harley-Davidson, for building things in America", Trump said at the time.

Mercedes-Benz maker Daimler last week cut its 2018 profit forecast citing growing trade tensions.

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