Trump says Harley-Davidson using trade tensions "as an excuse"



[ad_1]

President Donald Trump meets with Harley-Davidson representatives, including CEO Matthew Levatich (R), at the White House in Washington, DC, on February 2, 2017.

Jonathan Ernst | Reuters

President Donald Trump meets with Harley-Davidson representatives, including CEO Matthew Levatich (R), at the White House in Washington, DC, on February 2, 2017.

"At the beginning of the year, Harley-Davidson said it would move much of its plant to Kansas City in Thailand," said Trump in another tweet. "It was a long time before tariffs were announced, so they were only using tariffs / trade war as an excuse."

Harley did not immediately respond to a request for comment from CNBC.

On Monday, Harley said he was moving production overseas because of rising costs of EU retaliatory tariffs against Trump administration rights. on the steel and aluminum block. According to the company, no production will be transferred to Europe because of tariffs. Harley 's overseas manufacturing plants are located in countries such as Brazil, India, Australia and Thailand.

Shares fell 1 percent in pre-sell trade on Tuesday, after falling nearly 6 percent on Monday.

Trump said Monday in a tweet that he was "surprised" by Harley's decision. He publicly thanked Harley-Davidson early last year for "having built things in America" ​​and criticized other companies for moving production to the outside of the United States.

Trade tensions between the United States and the rest of the world have increased in recent months.

"Harley must know that they will not be able to resell in the United States without paying a big tax!" Trump said in another tweet on Tuesday.

– CNBC
Morgan Brennan
contributed to this report.

[ad_2]
Source link