The Harley-Davidson Motor Company celebrates the easing of EU and US steel and aluminum.

The Harley-Davidson Motor Company celebrates the easing of EU and US steel and aluminum. 

Imptags : The Harley-Davidson Motor Company celebrates the easing of EU and US steel and aluminum. The Harley-Davidson Motor Company celebrates the easing of EU and US steel and aluminum, 

The Harley-Davidson Motor Company celebrates the easing of EU and US steel and aluminum. In June, 2018, then U.S. President Donald Trump imposed a 25-percent tariff on steel imports and a 10-percent tax on aluminum imports from Europe. Despite Trump's claims of national security, a trade war ensued shortly thereafter. The EU implemented a tax of €6.4B ($7.78B USD) on American goods, including big-bore V-twin motorcycles, after failing to negotiate with the U.S.

The brand dodged the import taxes by shifting production of its European models to its Thailand factory. In April, 2021, the EU caught wind of the Motor Company's clever move. Harley benefited from a six-percent import fee under its Binding Origin Information (BOI) status. Once the EU revoked the company's BOI credentials and imposed current tariffs, H-D's import tax increased to 56 percent.

At the request of several motorcycle associations and coalitions, the current EU and U.S. administrations have agreed to a momentary trade truce. The lull gave negotiators time to reach an amicable agreement. One month before the deadline of December 1, 2021, the two parties reached an agreement to settle their steel-aluminum disputes.

"We have agreed to pause our steel and aluminum trade dispute and begin cooperation on a Global Arrangement on Sustainable Steel & Aluminum," said EU Trade Commissioner Valdis Dombrovskis via Twitter. 

The deal was hailed by both sides, with U.S. President Joe Biden stating that the agreement "immediately removes tariffs on American products in the European Union and reduces costs for American consumers, and ensures a strong and competitive steel industry in the United States for decades to come."

Harley-Davidson motorcycles are also part of those "American products." With Indian Motorcycle's Opole, Poland factory, the brand wasn't as bothered by the trade dispute. The agreement, however, marked a momentous occasion for the Bar and Shield.

"Today's news is a major victory for Harley-Davidson and our European customers, employees, and dealers," said Harley-Davidson CEO Jochen Zeitz. "We thank President Biden, Secretary Raimundo, and the U.S. administration for their efforts."

"We are delighted that this brings an end to a conflict that wasn't of our making, and where Harley-Davidson had no business. Harley-Davidson will be able to further its position as the world's most desirable motorcycle brand with this important change in U.S.-EU trade relations."

The Harley-Davidson Motor Company celebrates the easing of EU and US steel and aluminum. 

Imptags : The Harley-Davidson Motor Company celebrates the easing of EU and US steel and aluminum. The Harley-Davidson Motor Company celebrates the easing of EU and US steel and aluminum, 

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