Harley-Davidson shares forsaken as most as 2.3 percent Friday after a association pronounced a trade fight with Europe would “significantly” harm motorcycle sales.
President Donald Trump imposed a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports, inspiring a motorcycle company’s production costs. In response, a European Union told a World Trade Organization about skeleton to boost duties on motorcycles and other goods, a approach strike on Harley’s products.
Nineteen percent of Harley-Davidson’s sales were to Europe in a initial mercantile entertain of 2018, according to a company’s gain release.
“Import tariffs on steel and aluminum will expostulate adult costs for all products done with these tender materials, regardless of their origin,” association officials pronounced in a statement. “Additionally, a punitive, retaliatory tariff on Harley-Davidson motorcycles in any marketplace would have a poignant impact on a sales, a dealers, their suppliers and a business in those markets.”
The Milwaukee-based association is down 21.2 percent this year.