KXIP vs KKR Live Score

Shares at Harley Davidson are down 2.40% in early morning trading. Case in point, Harley Davidson.

Other products targeted include peanut butter, orange juice, bourbon, blue jeans, and cigarettes.

Harley said in a Monday filing that European Union tariffs on its motorcycles built in the us just jumped from 6% to 31%, adding roughly $2,200 to the cost of each.

In early 2017, President Donald Trump met with executives from Harley-Davidson who he thanked for "building things in America".

Harley-Davidson did not immediately respond to a request for comment Tuesday.

"Donald Trump's trade war has been an abstraction for most Americans so far, but the retaliation has now begun in earnest and the casualties are starting to mount", the editorial begins.

The EU's new policy raises the tariff for motorcycles from 6% to 31%, making it much more expensive for Harley Davidson to send their bikes to Europe.

Harley didn't specify which worldwide plants will boost output for European Union markets. The affected American motorcycle brands will certainly be Harley-Davidson and Indian Motorcycle, which will see higher sticker prices in Europe, and is certain to affect sales.

"Harley-Davidson believes the tremendous cost increase, if passed onto its dealers and retail customers, would have an immediate and lasting detrimental impact to its business in the region", the company said.

Harley's move is an example of what economists say will be a significant long-term problem with the tariffs and represents a black eye for Trump's arguments in favor of the measures. It anticipates the cost for the rest of the year to be approximately $30 million to $45 million. So it's shifting production of bikes for European riders to unspecified overseas plants.

More news: Musa marks return with winning double as Nigeria beat Iceland

Chief Financial Officer John Olin told analysts in April he expected the tariffs to add $15 million to $20 million "on top of already rising raw materials", representing "quite a headwind for the company over the next several quarters".

A US motorcycle sales slump has deepened since then, spurring Harley's decision in January to close a plant in Kansas City, Missouri, eliminating about 260 jobs. USA motorcycle sales peaked at more than 1.1 million in 2005 but then plummeted during the recession. It wasn't immediately known whether any other facilities would be consolidated.

United Steelworkers, which represents some Harley employees and has supported some of the president's tariff announcements, said it does not know yet how the company's decision will affect USA employment.

But the International Association of Machinists and Aerospace Workers, which represetns Harley-Davidson workers in Missouri, Pennsylvania and Wisconsin, denounced the move as a pretext and a "slap in the face" to the company's workforce.

"Will Harley use any excuse to ship jobs overseas?"

Harley's announcement came as administration officials struggled to present a united front on another element of Trump's trade policy, new measures created to curb China's ability to access American technology by investing in American companies. Trump has threatened to impose tariffs within weeks on foreign autos and auto parts, a move that would hit German carmakers especially hard. And the vast majority of Harley-Davidson motorcycles sold in India are produced in the country so the Indian tariffs don't apply to them anyway.

That's right Mark... the European Union imposed import duties of 25 percent on a range of American goods last week, including Harley-Davidson motorcycles.

In the name of protecting American jobs, Trump has imposed tariffs on steel and other products coming from China, Europe, and other countries.

Harley is not raising bike prices for customers or retailers.

The office of Speaker of the House and fellow Wisconsin Republican Paul Ryan was additionally critical of the trade stand-off.