Trump says he's 'surprised' by Harley-Davidson moving some production overseas
Source: CNBC
President Donald Trump said Monday he was "surprised" by Harley-Davidson's announcement that it will move some of its production out of the U.S. to avoid European Union tariffs. Trump again accused the EU of engaging in trade practices that "hurt" the American economy.
Link to tweet
The president has previously lauded the iconic American motorcycle manufacturer for "building things in America." He has also repeatedly criticized other manufacturers for moving production outside of the U.S. But Harley's announcement came as an unintended consequence of the Trump administration's efforts to protect American jobs by levying tariffs, including duties on imports of European steel and aluminum.
The European Union subsequently slapped retaliatory tariffs on more than $3 billion worth of U.S. goods including bourbon, yachts and motorcycles. In a Monday regulatory filing, Harley said the retaliatory measures raised duties on U.S. made motorcycles from 6 percent to 31 percent. The company said while it does not plan to raise retail or wholesale prices, it expects an incremental cost of $2,200 per unit exported from the U.S. to the EU.
Harley explained it can "avoid the tariff burden" by shifting some of its production to facilities overseas. Harley sold nearly 40,000 new motorcycles last year in Europe, 16 percent of overall sales and its biggest market outside of the U.S., according to the company.
Read more: https://www.cnbc.com/2018/06/25/trump-says-hes-surprised-by-harley-davidson-moving-some-production-.html
Stupid behavior has consequences.
fountainofyouth
(409 posts)forgotmylogin
(7,540 posts)He thought he'd pound his tiny fist and demand to make a deal and all would work out--"I'll run the country like a business!"--said no successful President ever.
The details don't matter as much so long as he gets to sign his enormous pointy signature and hold it up and beam at an adoring crowd like he won.
More_Cowbell
(2,192 posts)dhol82
(9,353 posts)Nobody on his side asking the question.
RockRaven
(15,105 posts)When you don't know anything about anything.
When you don't understand anything which you do supposedly know.
When you don't do your homework.
When you don't read.
When you don't listen to experts.
When you choose sycophants to pretend to be experts.
When you don't even listen to the sycophants.
When you "go with your gut."
Honeycombe8
(37,648 posts)AND moving production locations overseas. A double win for the company.
This is a clear example of tax cuts NOT helping our economy or increasing American jobs.
This is just a fact. Even an idiot deplorable should be able to understand it. Only increased business results in increased jobs. Not a tax cut. In fact, if a tax cut results in budget cuts, it could DECREASE a business's business, because budget cuts will result in layoffs, decreased expendable income, and closings of small businesses....all money that would go to INCREASE THE BUSINESS of the company that got the big tax cut.
Phoenix61
(17,028 posts)enough to figure out the consequences of any decision he has ever made.
JI7
(89,290 posts)milestogo
(16,829 posts)"We will put tariffs on Harley-Davidson, on bourbon and on blue jeans Levi's, European Commission President Jean-Claude Juncker said on German television, according to Reuters. Trump's announcement has drawn condemnation across the globe, with several countries threatening retaliation if he imposes the duties. "We would like a reasonable relationship to the United States, but we cannot simply put our head in the sand," Juncker said.
The products listed by Juncker appeared to target industries based in the home states of congressional leaders. Harley-Davidson is based in Wisconsin, the home state of Speaker Paul Ryan (R); Levi Strauss & Co. is headquartered in House Minority Leader Nancy Pelosi's (D) hometown of San Francisco; and bourbon is made in Kentucky, the home state of Senate Majority Leader Mitch McConnell (R).
Juncker did not make it clear if he listed those particular companies and industries because of their locations within lawmakers' home states. According to Reuters, the EU is weighing potential 25 percent tariffs on $3.5 billion worth of goods to "rebalance" trade with the U.S.
Canadian Foreign Minister Chrystia Freeland also warned on Thursday that Ottawa would take "responsive measures" against the U.S. if Washington imposed tariffs on Canadian steel and aluminum exports to the U.S. Roberto Azevêdo, the director-general of the World Trade Organization, expressed concern on Friday about the possibility of a trade war stemming from Trump's proposed tariffs. A trade war is in no ones interests," he said. "The WTO will be watching the situation very closely."
http://thehill.com/regulation/international/376467-eu-weighs-tariffs-on-bourbon-blue-jeans-harley-davidson
Dawson Leery
(19,348 posts)Large and loud. I understand why they hit Harley with tariffs.
hexola
(4,835 posts)They've maxed out that demographic - and they aren't making any more people like that.
All the retired guys who "always wanted a Harley" - have one.
That market segment was always very retro and about image - and many, rode lightly.
Lots of hardly-ridden bikes out there.
I doubt you needed a Tariff to push Harley out - they might just benefit from a new Euro-High-Tech image.
C_U_L8R
(45,047 posts)Totally incompetent... at well, pretty much everything besides his compulsive self-felation
dalton99a
(81,709 posts)"Donald Trump was the dumbest goddamn student I ever had." - Prof. William T. Kelley, Penn
Dave Starsky
(5,914 posts)Demonstrates more business and economics knowledge than Donald Trump.
snort
(2,334 posts)Update at 11.
progree
(10,956 posts)riversedge
(70,482 posts)ProfessorGAC
(65,466 posts)milestogo
(16,829 posts)Dave Starsky
(5,914 posts)You know what to do, boys! Time to drive that $20,000 hawg into the backyard and--like you did with your Keurig last year--smash it into a thousand pieces in a video on YouTube.
So what are you waiting for? You know it's what your Dear Leader wants you to do! Get back there and MAGA!
haele
(12,703 posts)Not like there's any sort of, well, you know, historical precedent (Hawley Smoot), for what this sort of "economic activity" creates. Harley Davidson wants to stay afloat for a long time; they've either got to severely constrict their business to a strictly U.S. market or put some of their plants abroad to sell to those markets without adding punitive export costs due to Mr. Stable Genius and his Business Genius policies.
And both survival plans require that U.S. plants are going to be shuttered and U.S. workforce is going to be laid off.
F'n financially, ethically and mentally bankrupt Idiot and his "Get Rich Quick Financial Product Guru" advisors.
Haele
Gothmog
(146,030 posts)area51
(11,945 posts)Trump surprised that water is wet.