Harley-Davidson Inc. plans to shift some production of its motorcycles out of the U.S. in response to European Union tariffs, as President Donald Trump’s trade war undermines an iconic American manufacturer.Each motorcycle will cost about $2,200 more after the European Union raised its levies on imported U.S. bikes to 31 percent from 6 percent on June 22, the Milwaukee-based manufacturer said Monday in a regulatory filing. This will cost Harley about $90 million to $100 million annually, as the company will absorb rather than pass extra costs on to customers.While Trump has repeatedly claimed that the U.S. can win trade wars, victims are starting to pile up at home and abroad. Harley’s filing follows a profit warning last week from Daimler AG, which cited escalating tensions between the U.S. and China. The motorcycle maker tied its higher costs to a sequence started by Trump, who slapped tariffs on European steel and aluminum, prompting the EU’s retaliation.Harley — once praised by Trump at a February 2017 White House meeting as a model American manufacturer — didn’t specify which international plants will boost output for EU markets. The company operates manufacturing facilities in Brazil, India and Australia, and is beginning production in… Read full this story
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