Trump denies he's to blame for Harley-Davidson decision

Harley-Davidson To Move More Production Oversees Amid US-EU Trade Tensions

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Harley-Davidson's headquarters are in Milwaukee, and on Monday the office of House Speaker Paul Ryan, a Wisconsin Republican who has opposed Trump's move to impose tariffs, said the company's announcement was evidence of the detrimental effect of the president's trade policy.

President Donald Trump is denying that his trade policy is responsible for Harley-Davidson's (HOG) decision to shift some motorcycle production overseas.

According to the company, the EU's new tariffs will increase the cost of a motorcycle shipped from the United States to Europe by $2,200.

Trump also accused Harley-Davidson, without providing any evidence, of intentionally misleading Americans by saying the firm was moving some operations out of the response to new tariffs imposed by the European Union.

Moving production overseas is expected to require nine to 18 months, meaning that in the near term the company will absorb the costs of higher European Union tariffs. "The Aura will be gone and they will be taxed like never before!"

Some analysts expect to see more instances of company shifts when the second-quarter earnings season kicks off next month. Trump wrote in one tweet.

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Harley acknowledged it has already been moving some production abroad, but it says moving more production overseas is its "only sustainable option" in the wake of the growing trade war. But Trump says that's just an excuse.

The company says it's doing so because of tariffs it's facing in a trade dispute between the USA and the European Union.

The company said it will take a hit of $30 million to $45 million for the rest of this year.

Harley-Davidson on Monday announced the company would move production of European-sold motorcycles overseas to avoid the increased tariffs imposed on American imports.

Trump said in tweets Tuesday that the company had already announced it was closing a Kansas City plant.

But Mr. Trump responded that Harley had made a decision to relocate some production "long before Tariffs were announced".

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Trump has been imposing import duties on wherever he felt Americans had not been given a fair deal, thus triggering a trade war with numerous US' trade partners.

"... We are getting other countries to reduce and eliminate tariffs and trade barriers that have been unfairly used for years against our farmers, workers and companies".

The European Union on Friday began rolling out tariffs on American imports including bourbon, peanut butter and orange juice. The levy on Harley-Davidson bikes has increased to 31% from 6%, the company said.

"Trump tweeted ".We are finishing our study of Tariffs on cars from the that they have long taken advantage of the the form of Trade Barriers and Tariffs. The EU is the company's second-largest market to the USA -selling nearly 40,000 motorcycles previous year.

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 USA and its trade partners.

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