Trump threatens European Union with retaliation over ‘unfair’ tariffs on Harley-Davidson

The logo of U.S. motorcycle company Harley Davidson is seen on one of their models at a shop in Paris

The logo of USA motorcycle company Harley-Davidson is seen on one of their models at a shop in Paris, France, August 16, 2018.

At the time, Harley-Davidson, which has to make the purchase of steel overseas, vowed to relocate production of motorbikes intended for Europe abroad to escape the European Union import duties introduced in reaction to Trump's tariffs on metals.

U.S. President Donald Trump and Vice President Mike Pence stands next to Harley Davidson motorcycles after meeting with Harley Davidson executives at the South Lawn of the White House in Washington U.S., on February 2, 2017.

Levatich said Europe will be "even more important" to its long-term business than previously, because of the popularity of new middleweight motorcycles the company is introducing.

The company also added retaliatory import duties, mainly comprising those imposed by the European Union, will cost Harley between $100 million and $120 million in 2019.

European Union tariffs on US -manufactured motorcycles, which increased to 31 percent from 6 percent last June, are set to rise to 56 percent in 2021.

He ended the tweet by saying: "So unfair to US".

It meant tariffs on Harleys climbed from 6% to 31%, and they are set to rise further in 2021.

Avengers Endgame: Who Is Ronin & How Could He Affect the MCU?
But, they are also looking beyond the horizon towards the future of the MCU, especially with the recent Fox acquisition. The movie also happens to be a direct sequel to the 2018 movie Avengers: Infinity War .

In addition, China's tariffs on the bikes exported from the USA have increased to 55 per cent from 30 per cent as a result of the trade war between the world's two biggest economies.

It came as the motorcycle maker this morning posed results for the first quarter of the year, showing profit down 26.7 per cent year-on-year.

The company said it found 278,000 "new riders" in the United States in 2018 and that "this group is the most diverse across age, ethnicity and gender in all the years Harley-Davidson has tracked this data".

Amid the steel dispute, Trump also welcomed a boycott planned by Harley-Davidson owners and called for higher taxes on the company. "Great!" Trump wrote on August 12. A really bad move!

Similarly, China's tariffs on the bikes exported from the US have increased to 55 percent from 30 percent as a result of the trade war between the world's two biggest economies.

The company topped expectations for first-quarter profit by more than 30 cents per share and stuck to shipment forecasts for the whole of 2019, which some analysts had expected to be cut.

Despite this, overall sales continued to fall.

The company's quarterly report revealed that its revenue from motorcycles and related products fell 12.3 percent to $1.19 billion from January through March, while year-on-year net income fell to $127.9 million, or 80 cents per share, from $174.76 million, or $1.03 per share.

Related news:

Hot News

isis-killer-beheading-video-story-top Baby dies in 'medical emergency' on AirAsia flight
Apr 24, 2019 - 02:09
Flight crews on board Air Asia Flight D7236 were met on the ground by West Australian police and medical response teams. The flight was cleared to depart Tokyo on the night of April 22 and landed safely in Kuala Lumpur early this morning.

isis-killer-beheading-video-story-top Florence And The Machine: The Story Behind 'Game of Thrones' Song
Apr 24, 2019 - 02:01
When Tyrion requests a song, Pod steps up to the plate, singing mournfully: " High in the halls of the kings who are gone ". The key takeaway is that Duncan gave up his claim to the Iron Throne when he married Jenny of Oldstones .

isis-killer-beheading-video-story-top Bucks sweep Pistons to snap long playoff win drought
Apr 24, 2019 - 01:57
Antetokounmpo talked up the togetherness of Milwaukee, who finished top of the Eastern Conference during the regular season. The Bucks will take on the Boston Celtics in round two of the National Basketball Association playoffs.

isis-killer-beheading-video-story-top Discredited liar Sarah Huckabee Sanders defends her constant lying
Apr 23, 2019 - 02:39
She often asks tough questions of the administration and is hit back with rants about 'fake news'. A slip of the tongue is something you do by accident, unintentionally.

isis-killer-beheading-video-story-top Philadelphia Flyers Remove Kate Smith Statue Over Allegations Of Racism
Apr 23, 2019 - 02:34
The New York Daily News reported Thursday there are conflicting claims about Smith's 1939 song " That's Why Darkies Were Born ". The Kate Smith statue was erected in 1987 outside the Flyers' former stadium and moved to its new stadium around 2011.

isis-killer-beheading-video-story-top Lyra McKee: Special measures being looked at for witnesses
Apr 23, 2019 - 01:26
Two teenagers were released without charges on Sunday after being arrested in connection with McKee's murder. Officers say around 50 petrol bombs were thrown in the confrontation and two cars were burned out.

isis-killer-beheading-video-story-top Parker urges relegated Fulham to take heart from back-to-back wins
Apr 23, 2019 - 01:26
On the absence of on-loan Liverpool full-back Nathaniel Clyne, Howe added: "Nathaniel's been carrying a hamstring injury for a couple of weeks now so he missed out today".

isis-killer-beheading-video-story-top Wilfried Zaha is settled at Crystal Palace, insists boss Roy Hodgson
Apr 23, 2019 - 01:21
Crystal Palace were able to pull off a shock on Sunday afternoon after defeating Arsenal 3-2 at the Emirates Stadium. He opened the scoring and it was his header which sent Zaha through on goal for the second.

isis-killer-beheading-video-story-top Iran and Pakistan to form joint rapid reaction force at border: Rouhani
Apr 23, 2019 - 01:11
The Baloch Raji Aajoi Saangar (BRAS) umbrella group said it targeted Pakistani navy and Coast Guard officials travelling on buses. The February suicide bombing attack killed 27 members of the Revolutionary Guards in Iran's Sistan-Baluchistan province.

isis-killer-beheading-video-story-top Indian, Australian warships arrive in China for naval parade
Apr 22, 2019 - 02:25
Japan has also sent a destroyer to Qingdao , in the first visit of a Japanese navy ship to China since 2011, according to Japanese media.

Bashir's $150m fund: Cash hoard in suitcases found at deposed leader's home
Apr 22, 2019 - 02:08
The money, which Radio Dabanga says was shown to reporters, was stuffed in bags created to contain 50kg (110lbs) of grain. He said that since the ouster of Bashir, the military council has held two rounds of talks with the protest leaders.

isis-killer-beheading-video-story-top NYC issues summonses to 3 parents over measles vaccine
Apr 22, 2019 - 01:56
Also on Thursday, the city health department closed four schools for failing to turn over vaccination and attendance records . They are located at 68-84 Harrison Ave., 241 Keap St., 590 Bedford Ave. and 720 Wythe Ave.

isis-killer-beheading-video-story-top Michael Jordan declares Tiger Woods had 'the greatest comeback I've ever seen'
Apr 22, 2019 - 00:59
Trey Little made a wager with his wife, Denise Coleman, that if Woods won the 2019 Masters, they would name their son Tiger . It's cool because I kind of have an idea of what that feels like, climbing back to the top of the mountain.

isis-killer-beheading-video-story-top Fabulous Fabio Fognini stuns Rafa Nadal to reach Monte Carlo Masters final
Apr 22, 2019 - 00:57
The 48th-ranked Serb Lajovic was playing in the first ATP final of his career and got to the title match without the loss of a set.

isis-killer-beheading-video-story-top Woman caught on video dumping 7 puppies in SoCal dumpster
Apr 22, 2019 - 00:42
Officer Jose Cisneros was called to the scene around 2 p.m. where he discovered a trash bag containing seven puppies. His actions were humane and heroic. "There is no excuse for dumping puppies", he said.