(INTELLIHUB) — A 25 June U.S. Security and Exchange Commission filing reveals that Harley Davidson plans on making a drastic move by relocating several of its motorcycle factories from the United States to the European Union to avoid tariffs and remain relevant in a market where the manufacturer’s stylistic productions are already $2,000 overpriced compared to similar bikes in the region.
All of this comes to a head after Donald Trump’s recent announcement of tariff’s spice up trade wars.
The American motorcycle manufacturer maintains they stand to lose a whopping $30 to $40 million by the end of 2018 due to the new Trump tariffs which have essentially forced them to counter by moving operations overseas in order to keep the same price point for customers inside the E.U.
Monday Haley Davidson stock fell 6% following the SEC filing.
So far, there has been no response from the White House.