RTTNews | Nov 1, 2021 10:22AM EDT

10:22 Monday, November 1, 2021 (RTTNews.com) - American motorcycle giant, Harley-Davidson, Inc. (HOG), is trading 7% higher in the market after news broke of the United States and the European Union coming to an agreement about a tariff deal that steel and aluminum that was set in 2018.

Due to retaliation from the EU against the policy put forward by the former US administration. The recent agreement will allow a 25% tariff on steel and a 10% tariff on aluminum while a certain amount of steel will be exported to the US without any charges.

This will mean Harley will not have to pay the 56% tariff on their motorcycles. "We are excited that this brings an end to a conflict that was not of our making, and in which Harley-Davidson had no place. This is an important course correction in U.S.-EU trade relations, that will allow us to further Harley-Davidson's position as the most desirable motorcycle brand in the world," said Harley-Davidson Chairman and CEO Jochen Zeitz.

The stock is currently trading at $39.13, up $2.64 or 7.23% from its previous close at $36.49. The stock opened at $36.84 in the morning. In the 52-week period, the shares have ranged between $31.20 and $52.06 per share.

Read the original article on RTTNews ( https://www.rttnews.com/3237849/why-are-harley-shares-riding-7-higher.aspx)

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com All Rights Reserved