Harley-Davidson may face credit downgrade because of European Union tariffs

Harley-Davidson may face credit downgrade because of European Union tariffs

Harley-Davidson Inc is enduring a third day of attacks on Twitter by Donald Trump, with the president again misconstruing the iconic U.S. motorcycle maker's business. He incorrectly said Harley was moving production to Asia from the USA, when in fact the expansion in Thailand was unrelated to the closing in Missouri. "Hence, they were just using Tariffs/Trade War as an excuse", he said. "As a rider and owner of a Harley-Davidson and as a former Harley-Davidson dealer, I condemn this decision and I strongly urge them to reconsider it".

Shares of Harley-Davidson were up slightly in midday trading. But many of Harley's motorcycles sold in India are assembled in the country, so they may not be subject to the tariffs anyway.

In a series of caustic early-morning tweets Trump dismissed any notion that his policies were responsible for Harley-Davidson's move. 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.

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The move isn't technically a shift of jobs from the U.S.to an worldwide locale.

Trump says in tweets Tuesday that the company had already announced it was closing a Kansas City plant.

Harley on Wednesday responded while sidestepping the controversy and not commenting on the president's tweets. "And I think the people who ride Harleys aren't happy with Harley-Davidson, and I wouldn't be either". We are opening up closed markets and expanding our footprint. "We'd like to work with the European Union to work on a level playing field".

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Trump criticized Harley-Davidson on Twitter, saying the overseas move upset employees and customers, and would be bad for the company's long-term prospects.

The rift is particularly notable because Harley-Davidson has traditionally, had strong support within the GOP. If they move, watch it, it will be the beginning of the end. The Aura will be gone and they will be taxed like never before!

Renacci's statement puts him in line not only with Trump, but with his election opponent, incumbent Democratic Sen. It was unclear what the president was referring to or how he could impose taxes on a single company.

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In his dissent to the amendment, Brown told lawmakers that the power to add tariffs was necessary to "defend against further shrinking of two sectors critical to our national defense (steel and aluminum)".

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