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Trump warms to Harley Davidson, says EU tariffs ‘unfair’

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WASHINGTON: US President Donald Trump on Tuesday appeared to reverse course on Harley Davidson Inc, saying European tariffs facing the motorcycle manufacturer were “unfair” and vowing to reciprocate, after urging a boycott of the company last year amid a steel spat. The Wisconsin-based company last year announced plans to move production of its motorcycles destined for the European Union to its overseas facilities from the United States to avoid EU tariffs imposed in response to Trump’s duties on steel and aluminum imports. Trump retaliated by calling for higher taxes, threatening to lure foreign motorcycles to the United States, and backing a boycott of the iconic American motorcycle maker. On Tuesday, Trump appeared more sympathetic, calling the EU tariffs “unfair” but giving no other details about any planned U.S. action in a tweet citing comments by a Fox Business Network host. “So unfair to U.S. We will Reciprocate!” Trump wrote. On Saturday, Trump is scheduled to travel to Wisconsin to hold a campaign rally as he seeks reelection in the 2020 presidential election. Representatives for the White House did not immediately respond to a request for comment on any planned actions, as both the EU and the United States prepared to launch larger trade talks. Representatives for Harley Davidson could not be immediately reached for comment on Trump’s tweet. The company on Tuesday reported quarterly profit that surged past expectations and stuck to its full-year shipment forecasts amid concerns over falling U.S. sales and European import tariffs, sending its shares up 3 percent.

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Harley-Davidson Acquires Company That Makes Electric Bikes for Kids

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Harley-Davidson is trying to attract a new generation of riders at a very young age. The iconic motorcycle company announced Tuesday that it was buying StaCyc, which makes two-wheel electric bikes for kids. StaCyc has two models — the 12eDrive and 16eDrive — that the company describes as “the perfect choice for little rippers” between the ages of 3 and 7. The bikes have a top speed of about 10 miles per hour and sell for a range of $649 to $699. Harley-Davidson said in a statement that Harley-Davidson branded versions of StaCyc’s two models will be available at select Harley-Davidson dealers in the United States in the third quarter of 2019. “The StaCyc team shares the same vision we have for building the next generation of riders globally and we believe that together, we will have a significant impact in bringing the fun and enjoyment of riding to kids everywhere,” said Heather Malenshek, Harley-Davidson senior vice president of marketing and brand, in the statement. Harley-Davidson is increasing its bets on electric vehicles as sales of traditional bikes slow. The company has already announced plans to launch the LiveWire premium electric motorcycle this fall. It is also developing other electric bikes that it plans to start selling in 2021. Harley-Davidson needs new growth opportunities as the company struggles to deal with tariffs from the Trump administration that have hurt earnings. Sales and profits are expected to fall this year and revenue is only expected to rebound slightly in 2020. Shares of Harley-Davidson have rallied this year with the rest of the market, rising 10% so far in 2019. But the stock is trading nearly 20% below its 52-week high.

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