Harley shifts production of bikes to overseas plants
Harley-Davidson said EU tariffs will push motorcycle production from U.S. factories to foreign facilities, a move expected to take up to 18 months. The EU imposed duties on $3.4 billion of U.S. goods in retaliation for Trump tariffs, affecting Harley’s exports and stock. The company emphasized its commitment to U.S.-based manufacturing while noting the EU is the second-largest market after the United States. Signed disclosures show Harley sold nearly 40,000 EU motorcycles last year and 147,972 in the U.S.
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China and EU to revise global trade rules
China and the European Union will form a working group to update global trade rules addressing technology policy subsidies and emerging irritants. The move aims to safeguard international trade amid U.S. tariff tensions and pace shifts in business practices under WTO rules.
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Tech worries drag on stocks across markets
U S stock indexes fell as investors feared a widening trade spat with China. The Dow dropped about 328 points and the Nasdaq slid over 160 as reports suggested limits on tech exports to China and Chinese ownership in tech firms. Mnuchin signaled broader limits. market traders blamed uncertain guidance and volatility. All but one of the 72 tech stocks on the S&P 500 declined.
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