President warns Harley-Davidson: 'We won't forget'

President warns Harley-Davidson: 'We won't forget'

President Donald Trump lashed out at the company on Tuesday and warned that it "will be taxed like never before!"

Soon after the company's announcement, Trump weighed in with typical bombast.

Trump continued his tweetstorm by saying "A Harley-Davidson should never be built in another country - never!" On Wednesday, Trump again took to Twitter to urge the company not to move any of its operations overseas and warning "we won't forget" the decision.

"If they move, watch, it will be the beginning of the end - they surrendered, they quit!" "Harley must know that they won't be able to sell back into U.S.without paying a big tax!"

He said the company has been working with Twitter to see if the tweets could be removed and to figure out where they originated.

Now the European Union has made a decision to target Harley for increased tariffs in response to Trump's trade war.

It forecast that the trading bloc's tariffs - introduced as a counter to Trump's tariffs on some EU-produced metals - would cost the company $90-100m a year. S&P warned in January it was anxious about Harley-Davidson's sales declines.

"We need to be there and be relevant", Levatich said.

Then it appeared as if Harley-Davidson's chief executive was punching back with a quote disparaging Trump. That was long before Tariffs were announced. To avoid raising its prices and risk losing business in the valuable European market, Harley-Davidson said it would shift some bike production overseas. This would effectively allow the company to import motorcycles into Europe without having to face an overall tariff of 31 percent.

The EU responded to United States tariffs on steel and aluminium, but hitting a series of American products with import taxes, including motorcycles, bourbon and blue jeans.

The company has said ramping up production overseas could take at least nine to 18 months. The EU raised an existing tariff it had on the company's motorcycles by nearly five times in retaliation for the U.S.' tariffs on EU aluminum and steel.

Morningstar Equity Research said in a note that the tariffs might "temporarily" hamper some of the company's planned growth initiatives.

"I fought hard for them and ultimately they will not pay tariffs selling into the European Union, which has hurt us badly on trade, down $151 Billion. Hence, they were just using Tariffs/Trade War as an excuse", he said. Trump said in a post on Twitter on Monday night. Trump has frequently championed the Wisconsin company as a success story in domestic manufacturing and hosted Harley-Davidson executives, including Levatich, at the White House, where the president called the firm a "true American icon".

The iconic motorcycle brand is the latest U.S. corporation to run afoul of the U.S. president, who has attacked Amazon as a tax dodger and scamming the U.S. Postal Service.

He has also complained about the high costs of Boeing's replacements for Air Force One aircraft, urging the federal government to cancel the order.



Related Posts

Cities applaud Supreme Court's online sales tax ruling
Plenty of retailers still do not collect the tax and consumers aren't keeping track to pay it on their income taxes. Thursday's ruling reversed decisions that states said cost them billions of dollars in lost revenue annually.

Oil prices: Trump did not pressure us to increase production - Barkindo
Oil markets are feeling the pressure as Libyan output concerns are jamming up against OPEC production hikes. We believe that the investors have over-reacted to the move, which has resulted in a rise in oil prices.

Iceland crash out after Croatia loss
The Iceland defender Sverrir Ingason almost scored twice just moments later, heading just over and then again off the crossbar. Croatia ended Iceland's chances at the World Cup and helped out Argentina at the same time .

US judge orders separated families must be reunited within 30 days
Several House conservatives left a closed-door meeting of Republicans early on Tuesday expressing discontent with the broad bill. After retreating on the family separations, Trump urged Congress to act quickly and follow up his order with legislation.

Late Night Hosts Join Forces to Respond to Trump
Add Donald Trump as an interest to stay up to date on the latest Donald Trump news, video, and analysis from ABC News. "Hm. ET on CBS, and The Tonight Show Starring Jimmy Fallon airs weeknights at 11:35 p.m.

Jeremy Irons to Star in HBO's 'Watchmen'
Lindelof, who wrote the script, executive produces the pilot with Nicole Kassell , who is directing, and Tom Spezialy. This would mark only the second major TV series role for Irons, following his starring turn on The Borgias .

LeBron James doesn't want to hear big pitches, will make decision
Kellerman's thinking makes sense as having been with the Cavaliers for so long, James does not really need to be pitched by them. There are many out there who think James will for sure to go the Los Angeles Lakers due to their cap space.

Former Harley Davidson dealer Jim Renacci criticizes company's decision to export jobs
The plant also enables CKD assembly of a number of bigger motorcycles from Harley's Sportster and Softail families. Tuesday he threatened Harley-Davidson, saying shifting production would be "the beginning of the end".

Instagram Video Chat Has Arrived
Growing the audience of these content makers is critical to Instagram as it strives to be their favorite app amongst competition. While Instagram remained tightlipped on the development, it foreshadowed the rollout of video calling at the beginning of May .

Serena Williams seeded for Wimbledon
In the men's draw, the champion, Roger Federer , is seeded No1, despite losing the top spot in the world rankings to Rafael Nadal at the beginning of the week.

© 2015 ExpressNewsline. All Rights reserved.