(Phillip Inman, Graeme Wearden & Dominic Rushe – The Guardian)
Harley-Davidson plans to shift the production of some of its bikes out of the US in response to Europe’s new tariffs on motorcycle imports.
In a stock market filing, the company said the EU’s reaction to Donald Trump’s steel tariffs, which will add $2,200 (£1,657) to the average cost of a motorcycle exported from the US to Europe, will result in up to $100m of extra charges over the next couple of years.
The decision is the most high-profile example to date of the potential impact of a widening trade dispute between the US and its largest trading partners. It came amid reports of US plans to escalate its trade spat with China, reports that led to sharp selloffs in global stock markets on Monday.
Trump said he was “surprised” that Harley-Davison “would be the first to wave the White Flag”. Click here to read more.
- Factory Workers Aren’t Getting What Trump Promised (Washington Post)
- Did the EU’s Tariffs Really Force Harley-Davidson to Move Production? (Fox Business)
- ‘Everything’s Falling Apart Around Our Ears,’ Share Market Trader Warns (ABC-Australia)