Harley Soars as U.S.-EU Tariff Deal Seen Easing Prices
By Dhirendra Tripathi
Investing.com – Harley-Davidson stock (NYSE:HOG) climbed more than 8% Monday as the company is seen as a beneficiary of the tariff deal reached two days ago between the U.S. and EU.
The deal is expected to ease supply-chain pressures and high prices of steel, metals and other raw materials.
The company called it “an important course correction in U.S.-EU trade relations”.
The new deal maintains the tariffs but would allow limited amounts of European imports to enter the U.S. without attracting any tariff. In return, the EU would drop retaliatory tariffs.
The maker of iconic motorcycles was among the U.S. companies whose products were hit with retaliatory tariffs by the EU after the Trump administration slapped levies on steel and aluminum imports.
The then administration imposed a 25% tariff on European steel and 10% on aluminum in 2018. The EU countered with tariffs on up to $7.8 billion of U.S. exports.
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