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Harley Davidson (NYSE:HOG) Continues Steady Journey Amid EU Tariff Increases on “Boats, Bourbon, and Motorbikes”

Harley Davidson (HOG) finds itself in a familiar position as the European Union (EU) prepares to impose tariffs on a range of products, including “boats, bourbon, and motorbikes,” in retaliation to U.S. tariffs on steel and aluminum. The 27-member bloc has announced countermeasures targeting U.S. goods valued at €26 billion ($28.3 billion), which will be partially implemented on April 1st and fully enacted by April 13th. This action will reignite “rebalancing measures” initially introduced in 2018 and 2020 against the first series of Trump steel tariffs that affected items such as motorcycles and whiskey.

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This situation is reminiscent for motorcycle manufacturer Harley Davidson, which experienced a drop in its stock value back in 2018 when the EU responded to Trump’s earliest trade actions with tariffs. During that time, the EU raised tariffs on Harley-Davidson motorcycles from 6% to 31%, prompting the company to caution that an average Harley bike exported from the U.S. to the EU would cost around $2,200 more, resulting in a loss of $90 million to $100 million annually.

Familiar Circumstances for HOG

In a recent report, HOG acknowledged the looming challenges it faces once again. Based on the history of incremental rebalancing tariffs the EU enacted in 2018, the company stated in its annual report dated February 26th that it anticipated foreign countries, including the EU, to introduce rebalancing tariffs in response to the steel and aluminum tariffs already disclosed by the U.S.

If the EU decides to reinstate previously suspended tariffs, it will mean HOG motorcycles imported into the EU could face a 56% tariff, significantly elevating costs.

Harley-Davidson’s response previously was straightforward: shift production overseas. “To mitigate the significant cost of this tariff burden long-term, Harley-Davidson plans to relocate motorcycle production for EU markets from the U.S. to its international facilities to circumvent the tariff burden,” the company stated in June 2018.

However, the escalation of the trade conflict complicates this process. Additionally, the upcoming tariffs will inflate the costs of components and materials used in the manufacture of the company’s motorcycles and other products, further squeezing margins.

Back in 2018, the U.S. implemented tariffs on steel and aluminum imports from the EU. In response, the EU applied incremental rebalancing tariffs of 25% on selected U.S. goods, including non-electric motorcycles. In April 2021, these tariffs began to affect motorcycles imported from the company’s manufacturing sites in the U.S. and Thailand. On October 21, 2021, the U.S. and EU temporarily suspended these tariffs, with the EU’s suspension set to expire by the end of March this year.

Is HOG a Worthwhile Investment?

Wall Street currently holds a Moderate Buy consensus rating for HOG stock, based on four Buys, five Holds, and one Sell. The average price target for HOG stands at $30.13, suggesting a potential upside of about 16% from current levels.

Harley Davidson (NYSE:HOG) Continues Steady Journey Amid EU Tariff Increases on “Boats, Bourbon, and Motorbikes”

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Harley Davidson News

Harley Davidson (NYSE:HOG) Navigates Familiar Terrain as EU Increases Tariffs on “Boats, Bourbon, and Motorbikes”

Harley Davidson (HOG) finds itself in a well-known situation as the European Union (EU) prepares to impose tariffs on a wide range of products, including “boats, bourbon, and motorbikes,” in retaliation for U.S. tariffs on steel and aluminum. The 27-member bloc has unveiled countermeasures targeting U.S. goods worth €26 billion ($28.3 billion), which are set to be partially implemented on April 1st and fully by April 13th. This move will reactivate “rebalancing measures” that were first initiated in 2018 and 2020 to counteract the initial wave of Trump steel tariffs affecting items like motorbikes and whiskey.

This is a familiar challenge for motorcycle manufacturer Harley Davidson, which experienced a decline in its stock in 2018 when the EU imposed tariffs in response to the trade conflict initiated by Donald Trump. As the EU raised tariffs on Harley-Davidson motorcycles from 6% to 31%, the company expressed concerns that the average Harley bike exported from the U.S. to the EU would see a price increase of about $2,200, translating to a $90 million to $100 million cost impact over the course of a year.

Déjà Vu for HOG

In a recent filing, HOG acknowledged that it would need to confront similar challenges again. Citing past instances of the EU’s incremental rebalancing tariffs implemented back in 2018, the company noted in its annual report dated February 26th that it anticipated additional foreign tariffs, including those from the EU, as a reaction to the U.S. steel and aluminum tariffs.

If the EU reinstates previously suspended tariffs, it will result in HOG motorcycles imported into the region facing a steep 56% tariff, significantly escalating prices.

Harley’s response during the last round of tariff increases was straightforward: shift production overseas. “To mitigate the substantial cost burden of these tariffs long-term, Harley-Davidson plans to move motorcycle production for EU markets from the U.S. to its international plants to evade tariff costs,” the company stated in June 2018.

This time, however, the escalation of the trade conflict complicates matters. Additionally, the range of tariffs will likely increase the costs of components and materials needed for manufacturing the company’s motorcycles and other products, further squeezing profit margins.

The U.S. first imposed tariffs on imported steel and aluminum from the EU in 2018. In response, the EU enacted incremental rebalancing tariffs of 25% on specific products coming from the U.S., including non-electric motorcycles. Starting in April 2021, the EU’s 25% incremental tariff began applying to the company’s motorcycles imported from its U.S. and Thailand manufacturing facilities. On October 21, 2021, the U.S. and EU reached an agreement to suspend these tariffs, with the EU’s suspension of its incremental tariffs set to expire by the end of March this year.

Is HOG a Good Stock to Buy?

Wall Street currently holds a Moderate Buy consensus rating for HOG stock, which reflects four Buys, five Holds, and one Sell recommendation. The average target price for HOG stands at $30.13, suggesting a potential upside of approximately 16% from current trading levels.

Harley Davidson (NYSE:HOG) Navigates Familiar Terrain as EU Increases Tariffs on “Boats, Bourbon, and Motorbikes”

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If you have any questions or comments regarding the article, please reach out at [email protected]

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Harley-Davidson Custom Paint

Harley-Davidson Custom Paint

Take a Closer Look at this Lovely Paint Job

Posted by imagetaker! on 2007-11-29 17:06:14

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Harley-Davidson Heritage Softail Motorbikes

Harley-Davidson Heritage Softail Motorbikes

Harley-Davidson Heritage Softail Motorbikes

Posted by imagetaker! on 2009-09-12 22:25:04

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Trike

Trike

Trike

Posted by imagetaker! on 2013-08-25 18:41:57

Tagged: , Trike , Old Motorcycles , Classic Motorbikes , Bike Images , Old Bikes , Bike Photos , Bike Pictures , pete barker , peter barker , Transport Images , Images of Motorbikes , Photos of Motorbikes , Pictures of Motorbikes , Motorbike Images , Motorcycle Pictures , Motorbike Pictures , Picture of Motorcycles , Photographs of Motorcycles , Motorcycle Fotos , Motorbike Fotos , Fotos of Bikes , Motorbikes Photography , Motorbike Photos , Fotos of Motorcycles , Fotos of Motorbikes , Motorcycle Images , Bike Fotos , Two Wheels , American Motorcycles , American Bikes , Harley’s , Harley-Davidson , Motorcycles , Motorbikes , Rides , imagetaker1 , imagetaker! , 哈雷戴维森摩托车 , Ride off , 經典摩托車 , 摩托車 , 兩輪車 , Harley-Davidson Shipley Rally , Shipley Harley-Davidson Rally , American Motorcars , American Cars , Made in the USA , PETE-B , Classic Bikes , Blast from the Past , Image Capture

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Harley Davidson Sunday (55)

Harley Davidson Sunday (55)

Harley Davidson Motorbikes

Posted by imagetaker! on 2010-08-29 22:40:52

Tagged: , Harley Davidson Bikes , American Bikes , Motorbike Images , Rides , Bike Photos , Bike Pictures , Motorcycles , Harleys , Hogs , Bobs , Glides , Sportsters , Baildon Shipley West , Yorkshire HD , Rallys Bike , Bikes Bike , pete barker , peter barker , Transport Images , Photos of Motorbikes , Photographs of Motorbikes , Pictures of Motorbikes , Images of Motorcycles , Images of Motorbikes , Motorcycle Pictures , Motorbike Pictures , Picture of Motorcycles , Photographs of Motorcycles , Motorbikes , Photo of Motorcycle , Motorcycle Photos , Old Motorcycles , Classic Motorcycles , Car Images , Motorcar Images , Motorcycle Fotos , Motorbike Fotos , Fotos of Motorcycles , Fotos of Motorbikes , Motorbike Photos , Harley Davidson Rallys , Motorcycle Images , imagetaker! , 經典摩托車 , 摩托車 , 兩輪車 , Harley-Davidson Shipley Rally , Shipley Harley-Davidson Rally , Photography Old Cars , Images of Motorbike , imagetaker1 , American Motorcars , American Cars , Made in the USA , PETE-B , Classic Bikes , Blast from the Past , Image Capture , Oldtimers

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Harley-Davidson Softail Glide Motorbikes

Harley-Davidson Softail Glide Motorbikes

Harley-Davidson Softail Glide Motorbikes

Posted by imagetaker! on 2009-09-01 19:08:13

Tagged: , Harley-Davidson Softail Glide , American Bikes , Bike Images , UK Bikes , Motorcycle Images , Motorbike Images , Bike Shows , Harley Davidson Classic Bikes , Harley Davidson Motorbikes , American Classic Bikes , Harley Davidson , Harley Davidson Bikes , Harley , transport images , transport photos , Transport Pictures , Transport Photography , Harley-Davidson Softail Glide Motorbikes , Motorbike Photos , Photos of Motorbikes , Photographs of Motorbikes , Pictures of Motorbikes , Images of Motorcycles , Images of Motorbikes , Motorcycle Pictures , Motorbike Pictures , Picture of Motorcycles , Photographs of Motorcycles , Motorbikes , Photo of Motorcycle , Motorcycle Photos , Old Motorcycles , Classic Motorcycles , Old Bikes , Bike Photos , Bike Pictures , Motorcycles , English Bike Shows , English Classic Motorbike Shows , pete barker , peter barker , Imagetaker1 , Old Motorbikes , Pictures of Motorcycles , Autos , Motorcycle Photography , Motorbike Photography , Rides , Classic Motorbikes , Motorcycle Fotos , Motorbike Fotos , Fotos of Motorcycles , Fotos of Motorbikes , Harley-Davidson Motorcycles , imagetaker! , Car Fotos , 經典摩托車 , 摩托車 , 兩輪車 , Harley-Davidson Shipley Rally , Shipley Harley-Davidson Rally , American Motorcars , American Cars , Made in the USA , PETE-B , Classic Bikes , Classic Vehicles , Blast from the Past , Image Capture , Oldtimers

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Harley trike mudguard mascot

Harley trike mudguard mascot

Posted by G. Postlethwaite esq. on 2018-05-15 18:05:03

Tagged: , DOF , Derbyshire , Harley Davidson , Heage , Sony A7 Mk II , beyondbokeh , bokeh , classic bikes , depth of field , full frame , mascot , mirrorless , motorbikes , mudguard , photo border , selective focus , trike , windmill

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Trike

Trike

Trike

Posted by imagetaker! on 2013-08-25 18:42:59

Tagged: , Trike , Old Motorcycles , Classic Motorbikes , Bike Images , Old Bikes , Bike Photos , Bike Pictures , pete barker , peter barker , Transport Images , Images of Motorbikes , Photos of Motorbikes , Pictures of Motorbikes , Motorbike Images , Motorcycle Pictures , Motorbike Pictures , Picture of Motorcycles , Photographs of Motorcycles , Motorcycle Fotos , Motorbike Fotos , Fotos of Bikes , Motorbikes Photography , Motorbike Photos , Fotos of Motorcycles , Fotos of Motorbikes , Motorcycle Images , Bike Fotos , Two Wheels , American Motorcycles , American Bikes , Harley’s , Harley-Davidson , Motorcycles , Motorbikes , Rides , imagetaker1 , imagetaker! , 哈雷戴维森摩托车 , Ride off , 經典摩托車 , 摩托車 , 兩輪車 , Harley-Davidson Shipley Rally , Shipley Harley-Davidson Rally , American Motorcars , American Cars , Made in the USA , PETE-B , Classic Bikes , Blast from the Past , Image Capture

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Harley-Davidson Engine

Harley-Davidson Engine

Sequential Port Injector Street Bob

Posted by imagetaker! on 2008-01-24 16:46:29

Tagged: , USA , Superbikes , Custom , Harley-Davidson , Baildon , Motorbike , Sequential Port Injection , Street Bob , Engine , england , vpower , Twins , Hells Angels , bikers , choppers , custom bikes , v Twins , Peter Barker , Classic Motorbikes , August Bank Holiday Weekend , pete barker , Transport , V Twin , Harley Davidson – Baildon , macro , UK Bikes , Bike Show , Motorbike Images , Motorbikes , Motorcycles , Two Wheels , Cool Transport Photos , Motor Vehicles , Power Bikes , imagetaker1 , Motorbikes Images , Motorcycle Photos , V-Twin Engines , Photographer , Rides , Bike Images , Motorbike Photography , American , Flickr Images , Flickr Photographs , Car pictures , flickr bike photos , Harley Rally , Motorcycles UK , British Classic Cars , Harley Davidson Classic Bikes , Harley Davidson Motorbikes , American Classic Bikes , Wheels , Motorbike Photos , Motorcycle Fotos , Motorbike Fotos , Yorkshire Republic , Motorcar Images , Harley Davidson Rallys , Car Images , imagetaker! , 發動機 , 哈雷戴维森 , Shipley Harley-Davidson Rally , OldTimers , American Motorcars , American Cars , Made in the USA , PETE-B , Classic Vehicles , Classic Motors , Automobiles