Donald Trump warns he will tax Harley-Davidson 'like never before' in relocation response

President Donald Trump has warned he will tax Harley-Davidson “like never before” if it goes ahead with plans to move production outside the US, saying the company’s motorcycles “should never be built in another country”. Harley-Davidson had on Monday announced it would be moving its production of motorcycles for EU destinations from the US to its international plants, which are located in Thailand, Brazil, India and Australia, citing the escalating trade war between the US and EU. Last week, EU tariffs were imposed on $3.3bn (£2.5bn) in US imports, including motorcycles, in response to US duties on steel and aluminium imports from the EU – a move Harley-Davidson said would increase the cost of its bikes for European customers by around $2,200 each. Harley-Davidson had said it was seeking to “address the substantial cost of this tariff burden long-term”, and expected to ramp up production in international plants within the next nine to 18 months. However, Mr Trump branded the company’s move a “white flag” and an “excuse”, and said he had “fought hard for them”. A Harley-Davidson should never be built in another country-never! Their employees and customers are already very angry at them. If they move, watch, it will be the beginning of the end – they surrendered, they quit! The Aura will be gone and they will be taxed like never before!— Donald J. Trump (@realDonaldTrump) June 26, 2018 He said he had met with executives from the company earlier this year and they had said then that they would be moving a substantial part of their operations to Thailand. “That was long before Tariffs were announced. Hence, they were just using Tariffs/Trade War as an excuse. Shows how unbalanced & unfair trade is, but we will fix it,” he wrote on Twitter. “If they …Read the rest of this story

Source:: https://finance.yahoo.com/news/donald-trump-warns-tax-harley-155709247.html