- Harley-Davidson shares dropped Friday amid escalating trade tensions.
- The motorcycle company said a trade war with Europe would hinder sales based on EU retaliatory tariffs.
- President Donald Trump imposed a 25 percent tariff on steel imports and a 10 percent tariff on aluminum, materials needed to build motorcycles.
Harley-Davidson shares dropped as much as 2.3 percent Friday after the company said a trade war with Europe would “significantly” hurt motorcycle sales.
President Donald Trump imposed a 25 percent tariff on steel imports and a 10 percent tariff on aluminum imports, affecting the motorcycle company’s manufacturing costs. In response, the European Union told the World Trade Organization about plans to increase duties on motorcycles and other goods, a direct hit on Harley’s products.
Nineteen percent of Harley-Davidson’s sales were to Europe in the first fiscal quarter of 2018, according to the company’s earnings release.
“Import tariffs on steel and aluminum will drive up costs for all products made with these raw materials, regardless of their origin,” company officials said in a statement. “Additionally, a punitive, retaliatory tariff on Harley-Davidson motorcycles in any market would have a significant impact on our sales, our dealers, their suppliers and our customers in those markets.”
The Milwaukee-based company is down 21.2 percent this year.
ROSEBURG, Ore. — Authorities are looking for a motorcyclist that went missing this week on his way through Oregon. 31-year-old Matthew Chapin’s last known location was near Toketee Falls in Douglas County, along Highway 138E.
Chapin spoke to friends and family on May 27 when he was in that area, having left Crater Lake and headed towards Portland—with a planned arrival date of June 2. However, Chapin has not been heard-from or seen since then.
According to Oregon State Police (OSP), Chapin has been riding his black and green 2016 Kawasaki Dual-Sport motorcycle, with Florida plates that read MCPB29. He is described as a white adult man, 6’0″ tall, about 170 lbs, with brown hair. Chapin is believed to be wearing a black helmet, black jacket and blue jeans.
OSP was notified of Chapin’s disappearance by authorities in Florida. According to friends and family, Chapin started from his home in Lake City, Florida back in mid-April, and has been touring the country on his motorcycle since then.
Search and Rescue teams from the Douglas County Sheriff’s Office have been assisting OSP in actively searching the area around Toketee Falls for Chapin.
Anyone that has seen or has information to the whereabouts of CHAPIN is encouraged to contact the OSP Southern Command Center (SCC) at 541-440-3333 and reference Case Number SP18-200098.
WESTMORELAND- The Red Knights Chapter NY-19 (Oneida County) hosted their 4th annual Firefighter’s Brotherhood MC Ride. The ride took place Saturday starting at the Westmoreland Fire Department and continued along a 95 mile course which eventually made its way back to Westmoreland.
“This ride is about remembering those who we have lost,” said Bud Koss, President of RKMC-19. “And educating everyone in the brotherhood to go in the right direction in the future.”
The 19th chapter of the Red Knights accepted a $1,500 check this morning, from Harley Davidson of Utica. Koss told WKTV the money this year will be donated to the Believe 271 Foundation. This foundation was founded in 2014 to raise funds for the seriously ill firefighters and auxiliary members.
“It all goes towards a great cause,” said Koss. “There is not a better feeling then when you see the bikes come rolling in.”
This years ride hosted 180 bikes which were registered. You are interested in donated to the Believe 271 Foundation you can do so at, http://www.believe271.com