Trump’s Tariffs Wipe Out Earnings For Harley-Davidson

The Hill reports:

Harley-Davidson said on Tuesday that their earnings per share were essentially wiped out in the final quarter of 2018 after the company got caught up in President Trump’s tariff war.

Bloomberg reported Tuesday that Harley-Davidson’s profit, excluding tariff and restructuring costs, was 17 cents per share, falling short of analysts’ average estimate of 29 cents per share. On a generally accepted accounting principles basis, earnings per share were zero.

Trump had in June tweeted his support for a boycott against Harley-Davidson after the motorcycle manufacturer vowed to move some of its production overseas to avoid new retaliatory tariffs imposed by the European Union.

Harley-Davidson barely broke even in the last quarter of a year in which the struggling American icon got caught up in Trump’s trade wars https://t.co/whj9zrIO6z pic.twitter.com/Xm9Lk3yHW5

— TicToc by Bloomberg (@tictoc) January 29, 2019

Harley-Davidson reported Trump’s trade tariffs wiped out all of its profits in the most recent quarter https://t.co/ZA621QvVKD

— Bloomberg (@business) January 29, 2019