On Tuesday, President Trump blasted Harley-Davidson over its decision to move parts of its production overseas and promised to hit the American company with punitive taxes. Trump acknowledged, thoug, that Harley-Davidson is an âAmerican icon.â
The President criticized the motorcycle maker on Twitter, accusing it of having âsurrendered.â Several Republican lawmakers heard the U.S. leader saying that he was âbetrayedâ by the Wisconsin-based company.
The President also tweeted that Harley-Davidson would lose its Aura and will be âtaxed like never before.â
If they move, watch, it will be the beginning of the end â they surrendered, they quit!,
On Monday, the company unveiled plans to move parts of its production to other countries after the European Union imposed a 31% levy on its bikes. The new tariff from the Europeans is a reaction to the Trump administrationâs higher import taxes on European and Chinese aluminum and steel imports.
Trade Dispute Affecting Harley-Davidson and other U.S. Companies
It is not the first time, however, that Trump speaks harshly about an American corporation. He had attacked companies like Carrier and Amazon before. Companies usually optÂ for a low-profile when under fire.
Ironically, last year Trump invited Harley-Davidson representatives to the Oval Office to thank the firm for âbuilding thingsâ in the United States. He also praised the U.S. company multiple times.
On Tuesday, the White House blasted the European Union over the new import taxes, claiming that the tariffs are âgroundlessâ because they infringe the World Trade Organizationâs regulations.
However, Europe is not the only one to respond to the Trump administrationâs measures to protect the U.S. trade. China, Mexico, and Canada have all imposed new tariffs on U.S. goods.
The Trump administration believes that these tariffs âdo great damage to the multilateral trading systemâ and vowed to fix the issue.
Image Source: MaxPixel
The post Furious Trump Blasts Harley-Davidson for Moving Production Overseas appeared first on Latest News in the Business and Financial World.