New tariffs around the world helped wipe out profits at Harley-Davidson in the final quarter of last year and are expected to cost it up to $120m this year, as the US motorcycle maker becomes one of the highest-profile victims of escalating trade disputes.
Harley set out the costs of new tariffs in Europe, China and the US on Tuesday as it reported disappointing fourth-quarter earnings and forecast lower than expected shipments for 2019, sending its shares down 7 per cent by midday in New York.
It said it planned to minimise the impact of those tariffs by using its plant in Thailand to serve the European and Chinese markets.
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