Harley-Davidson's profit falls by 19% as the company cuts its outlook for the year thanks to President Trump's trade war

on Tuesday trimmed the forecast for shipments of its motorcycles in 2019 after worldwide sales in the second quarter slumped, hurt by higher tariff costs as well as weak demand in the United States.

Operating margin as a percent of motorcycle revenue is projected to be about 6% to 7% this year, lower than the 8.0% to 9.0% estimated earlier. Compounding the company's troubles is U.S. President Donald Trump's trade war. In retaliation for the tariffs the White House placed on imported steel and aluminum, the European Union increased import duties on U.S.-manufactured Harley bikes to 31% from 6% last June.

The incremental tariffs cost the company $34.4 million in the June quarter, contributing to a 12.5% plunge in retail sales in Europe.

crap bikes that's why

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Halliburton profit beats as company cuts cost; shares riseHalliburton Co on Monday beat analysts' estimates for second-quarter profit... uk is not great, as its was its usa baby ,new baby pm tusday TRUMP SON BORIS Probably time for the US to begin another war so that this awful, immoral company can keep up its return to shareholders. Btw, how much Halliburton profit is directed via offshore / Delaware companies?
Källa: Reuters - 🏆 2. / 97 Läs mer »