(From Fox News)
Harley Davidson is set to begin shifting the production of motorcycles meant for Europe from the United States to factories overseas.
The EU is imposing tariffs on $3.2 billion worth of American goods, including motorcycles, orange juice, bourbon, peanut butter, motorboats, cigarettes and denim. They are a response to the Trump administration’s tariffs on steel and aluminum imports from Europe.
In an SEC filing released on Monday, the company said that European Union tariffs on motorcycles exported from the United States jumped from 6 percent to 31 percent, forcing the move.
That will make each bike about $2,200 more expensive to export, Harley said. Harley is not raising prices for customers.
Harley Davidson said that the company’s prices will not rise due to “an immediate and lasting detrimental impact to its business in the region.”