Trump, Trade, Royal Enfield and Harley-Davidson
The POTUS is angry about unbalanced trade around the world, and his latest target is India via Harley-Davidson.
“I’m not blaming India. I think it’s great that they can get away with it. I don’t know why people allowed them to get away with it. But there’s an example that’s very unfair,” Trump said, saying the United States should impose a “reciprocal tax” on other countries in return.
In a story in this morning’s Washington Post, “Trump accused India of selling `thousands of thousands of motorcycles, which a lot of people don’t know, from India into the United States. You know what our tax is? Nothing.’
“Problem is, the number of motorcycles imported from India into the United States is minimal. India’s Royal Enfield brand has dealerships in the United States and sells about 1,000 of its high-end bikes a year, according to Cartoq, but “motorcycles” don’t even merit a mention in the Indian Ministry of Commerce and Industry’s most recent data on exports to the United States.”
The rest of the WaPo story is here, but the gist is that trade relations with India seem to be headed in a confrontational direction. Will this be bad timing for Royal Enfield, which just introduced its first new motorcycles in decades – affordable ones Americans might actually want to buy in serious numbers? Stay tuned for more…