Trump revs up attacks on Harley-Davidson over production move
28 June, 2018, 11:26
Harley-Davidson Inc is enduring a third day of attacks on Twitter by Donald Trump, with the president again misconstruing the iconic USA motorcycle maker's business.
Trump said this while defending his recent decision to impose tariffs on the import of foreign products. Among the items subject to a new 25 percent tariff are orange juice, whisky and motorcycles. "We want the tariffs removed", Trump said.
The company's Street-model motorcycles are made in India for Italy, Spain and Portugal. Harley-Davidson has denied a link between Kansas City and Thailand.
The company said it would absorb a near-term financial hit of $30 million to $45 million in order to not raise prices in the European Union during the transition.
Trump criticized Harley-Davidson on Twitter, saying the overseas move upset employees and customers, and would be bad for the company's long-term prospects.
Trump recently imposed steep tariffs on aluminum and steel imported from Canada, Mexico and Europe in his bid to level the trade playing field and reduce trade deficits between the US and its trade partners. "It is a direct example of how trade policies could help this company, but we have to get on with our work to grow the business by any means possible, and that's what we're doing".
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.
President Trump tweeted Tuesday that Harley-Davidson had already announced it was closing a Kansas City plant and moving those jobs to Thailand.
"Our decision to move some of our operations is 100% based on President Trumps tariffs". Hence, they were just using Tariffs/Trade War as an excuse. Trump has defended it by arguing that this is in retaliation to the imbalance of trade that the USA has with major trading partners including China, the European Union and India.
Trump's current attacks came after Harley announced on Monday that the company would shift some of its production outside of the United States due to Trump's trade battles and the European Union's retaliatory tariffs against the US. India imports close to US$9 billion worth of oil from Iran and the sanctions are expected to have a disruptive impact.
The relationship between Trump and Harley-Davidson has gone from a love affair to a bad breakup in a matter of months. An unidentified official had said that the U.S. would collect $241 million (Rs 1,650 crore) worth of duties by hiking tariffs on certain steel and aluminium items from India. "Harley must know that they won't be able to sell back into US without paying a big tax!"
"Trump added. ".A Harley-Davidson should never be built in another country-never!
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