Published: Thu, June 28, 2018
Markets | By Erika Turner

Trump Tweets Harley-Davidson 'Will Be Taxed Like Never Before'

Trump Tweets Harley-Davidson 'Will Be Taxed Like Never Before'

Rep. Jim Renacci aligned himself with President Donald Trump, criticizing Harley-Davidson's decision to move some jobs overseas.

The ratings agency says the Milwaukee company's A-minus debt has negative implications because of tariffs imposed by the European Union in retaliation for USA tariffs on steel and aluminum. "I was the one that explained to Harley about 100 per cent tax in India. and I got it down to a much lower number. which is, I think, 50 per cent, which is far too much, but they were paying 100 per cent". Those tariffs are a retaliation for trade penalties imposed by the Trump administration. Harley must know that they won't be able to sell back into USA without paying a big tax! "Hence, they were just using Tariffs/Trade War as an excuse", Trump said.

Harley-Davidson said on Monday that it would lose as much as $100 million per year because of European Union tariffs on motorcycles that it ships from the United States.

The problem with Trump's tweet is that, while Harley makes a majority of its motorcycles at several locations in the U.S., it's had several overseas manufacturing sites for years. Outside the US, Harley-Davidson has manufacturing facilities in India, Brazil and Australia. "Harley must know that they won't be able to sell back into US without paying a big tax!"

Trump has dismissed the notion that his tariffs are to blame for Harley-Davidson's decision and has accused the company of using the duties as a false pretense for moving production out of the U.S.

Trump said he's getting other countries to reduce and eliminate tariffs and trade barriers, citing India as an example, and to open up markets.

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Harley-Davidson executives met with President Trump at the White House previous year after President Trump canceled a visit to the company's headquarters in Milwaukee because protests had been planned. He added: "I've done so much for you, and then this".

Harley-Davidson should stay 100% in America, with the people that got you your success.

"Harley-Davidson maintains a strong commitment to US -based manufacturing which is valued by riders globally", the company said Monday.

The rift is particularly notable because Harley-Davidson has traditionally, had strong support within the GOP. Trump wrote. "Their employees and customers are already very angry at them". If they move, watch, it will be the beginning of the end - they surrendered, they quit!

The Wisconsin-based manufacturer of iconic motorcycles has said it planned to move some manufacturing overseas in response to European Union tariffs retaliating for USA duties. "I understand that the President is a tough negotiator, but I urge him to consider a more targeted approach that protects American workers and businesses".

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