Trump Drives HOG Out Of U.S.
Because of President Trump's trade tariff tantrums, Harley-Davidson (HOG) may be forced to build its motorcycles destined for the European market over in Europe, itself...thereby cannibalizing its American jobs in the process.
Price has broken below several important support levels that I described in my post of March 2 and dropped over 6 % today...it sits just above major price support at 40.00, as shown on the monthly chart below.
This may just be the beginning of a great migration of businesses out of the U.S. if Trump continues his hard line on trade.
(Click on image to enlarge)
So much for this company as being hailed as an American icon, thanks to Trump's whims.
Trump's former praises all done for show?
Rather than helping, this is hurting our US industries. The only way to improve our trade is by either buying less or getting those overseas to buy more of our products. Making them an enemy and souring relations only makes getting the second solution, which is much better than the first, that much harder. What would help is getting people in government to broker more trade, not destroy trade relations.
Agreed.
The U.S. already has 12,000 tariffs in place on a variety of goods from numerous countries, so Trump's tariffs will be piled on top of those. American consumers will pay the price of a trade war, which will end up costing the U.S. far more than any minor benefits to its producers and manufacturers, inasmuch as these tariffs are paid to the government as taxes, not to U.S. companies. So any tax relief offered to Americans by the recent Tax Cuts and Jobs Act will be offset by trade war taxes, including job losses.
And, why would he want to restrict the sale of U.S. products to world markets? It makes no sense!