WASHINGTON (P3PWriter) – U.S. President Donald Trump stated on Tuesday his administration is working to deliver different bike corporations to america, following Harley-Davidson Inc’s choice to shift some manufacturing for European clients abroad.
Trump gave no particulars about what steps his administration is taking. Requested in regards to the tweet, White Home senior adviser Kellyanne Conway had no remark.
“Now that Harley-Davidson is transferring a part of its operation out of the U.S., my Administration is working with different Motor Cycle corporations who wish to transfer into the U.S,” Trump stated on Twitter, including “The U.S. is the place the Motion is!”
Harley-Davidson declined to touch upon the tweet.
Trump has threatened to impose larger taxes on the Milwaukee-based producer in retaliation after it stated on June 25 it was shifting some manufacturing for European-bound bikes from U.S. amenities to keep away from tariffs being imposed by the European Union to counter U.S. duties imposed by Trump.
Bike corporations primarily based outdoors america embrace Japan’s Honda Motor Co Ltd and Yamaha Corp, Europe’s BMW and Ducati in addition to India’s Hero MotoCorp Ltd, Bajaj Auto Ltd, amongst others.
The corporate’s announcement shook Trump’s relationship with the enduring American model. Executives had been feted on the White Home throughout a go to with the president final yr shortly after he took workplace.
Within the face of waning U.S. demand for bikes, Harley has turned its give attention to abroad gross sales, opening meeting crops in Thailand, India and Brazil.
“Harley’s major subject is U.S.-related as a result of shifts in demographics, which started effectively earlier than any talks of tariffs and commerce wars. Trump’s response appears emotionally charged. Harley is solely taking part in the hand Trump dealt them,” Bernstein analyst David Beckel stated.
Shares of Harley have been up 1.5 % at $42.55 on the New York Inventory Change.
Its shares took successful after Trump tweeted that the corporate can be “taxed like by no means earlier than” after its manufacturing announcement, though he gave no additional info.
Trump on Tuesday additionally appeared to incorrectly tie Harley’s June announcement to its gross sales final yr, saying Harley clients have been sad with the transfer and that gross sales had fallen 7 % in 2017.
Reporting by Susan Heavey and James Oliphant in Washington, and Rachit Vats and Arunima Banerjee in Bangalore; Extra reporting by Tim Ahmann; Modifying by Doina Chiacu and Jeffrey Benkoe