manufacturer, harley-davidson.e tweeted earlier this week quote now that harley-davidson is moving part of its operations out of the u.s. my administration is working with other motorcycle companies who want to move into the u.s. harley custom harley customers are not happy sales are down 7% in 2017. the u.s. is where the action is! let's discuss this further ken schmidt and from austin, texas, owner of custom cycles. good morning ken, i'll start with you harley-davidson is clearly a very strong u.s. brand is it important to buy harley-davidson whether in the u.s. or outside that it was also made in america, do you think? >> certainly important but way more important in the united states than it is outside the united states because americans tend to, obviously, be very pro american in their buying choices and harley has been a premier american company, beloved for being american made here in america. overseas it doesn't have that quite strong cache >> alan, you're a smaller manufacturer than the likes of harley-dav

trumps turns his back on harley davidson and says his administration is working to bring other motorcycle companies to the united states. and they might be fixated on the world cup but it hasn't escaped the attention of many russians that the government's announced a pensioner for one. lots of people don't like you. this is your business update on how to humphrey in berlin glad you could join me. german chancellor angela merkel says it is time for germany to try to a virt a trade war with the united states this after terrorists from washington met by e.u. levies of it so the next step potentially tariffs on vehicles made in europe a move which would hurt car exporting germany heart take a listen now to the chancellor speaking of parliament a deescalation in the trade brinkmanship. could it but right now we're witnessing something falter which we've always considered a constant namely the role of multilateral organizations we now have tariffs on a limb in human steel and we have a far more serious issue to levies be raised on cars imported to the u.s. because of the import with all and lad

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shareholders by the way, i would point out a historical fact that nobody remembers but in the 1960s, harley-davidsonorted a lot of bikes from italy. it is not the first time harley will be producing offshore and moving bikes into the united states but there's no arguing with anything that he said. >> i'm glad you brought that up. when i was sitting down with him, he pointed that out one of the things in the announcement today is the fact they're striking a partnership, a collaboration with an asian manufacturer to launch a new bike into the india market in terms of looking at production, and use it from the harley lens, the fact that they're shifting some production overseas, opening a new facility in thailand now, how much does that speak to the fact that if you are even an manufacturer manufacturer that you have to have a global manufacturing footprint. >> yes you have to have a global manufacturing footprint. if you ask president trump, i'm sure he would tell you exactly the same thing the problem is when the footprint is not global and not balanced with a certain stable or slightly growing level

the president has been a huge advocate of harley davidson.hink it's unfortunate they are talking about moving jobs. my sense is that this was before tariffs. i will comment specifically on china. had multiple negotiations with china and our objective is to create a level playing field for our companies to stop forced technology transfer. we put a modest amount of tariffs on china as a result of technology transfers. china reciprocated. our tariffs were less than 10% of what they ship. they match that, the dollar for dollar. the president threatened that if they did that, he would retaliate and we are in a iod on the $200 billion. are very much monitoring the impact on the economy of all these different issues. >> and want to thank you for that, but i want to get back to harley davidson, this is something that the american public really understands. they understand very much that harley davidson is a company that we would not like to see export overseas. that theof mumble tariffs had nothing to do with them moving and exporting jobs overseas.

i t guarranty you everybody bout a harley-davidson voted for trump. know if you know that bikers for trump. maria: the pride in america. >> they're very unhappy about it. they are very unhappy. we just proposed this a few days ago. they made this deal at the beginning of the year, long before they ever h heard of the word tariff. this deal at beginning of thehe year. i don't think they should do it. harley is an american bike. it is an american motorcycle. they should build them in this country. they shouldn't play cute. i had them for lunch six months ago. they were telling mere in india they charge 100%. maria: i know what you're talking about. >> i taught them more about tariffs than i could ever learn. let me ask you a question, how much you pay in india? 100%? you do much business? no. why? because the tariff is too high. i'm one telling them. i got them to reduce tariffs in india. all of sudden harley leaves. everyone else is coming in. they're one of the few -- everyone else is coming in. i have a feeling maybe harley i think they will take a b

as it relates to harley-davidson. i have previously public commented.i think the president has been a huge advocate of harley-davidson, i think it's unfortunate that they're talking about moving jobs, my senses this is before tariffs. i personally have been very involved in china. i've had multiple investigations. we want to create a level playing field to stop force technology transfer. we put a modest amount of tariffs on china for technology transfers. china reciprocated. our tariffs were less than 10% of what they shipped. they match that dollar for dollar. the president threatened that if they did that we would retaliate. we are now in a common. on the 200 billion. i assure you, we very much are monitoring the impact on the economy of all these different issues. >> i want to get back to harley-davidson. this is something the american public really understands. they understand very much that harley-davidson is a company we would not like to see export overseas. so, you kind of mumbled that the tariffs had nothing to do with them moving, exporting jo

i devoted a lot of time to harley-davidson. i treated them good.verybody who bought a harley-davidson voted for trump. they called bikers for trump. they are very unhappy about it. they are very unhappy. now, we just proposed this a few days ago. they made this deal at the beginning of the year, long before they ever heard of the word tariff. they made this deal at the beginning of the year. and i don't think they should do it. i think that harley is an american bike. it is an american motorcycle. and they should build them in this country. they shouldn't play cute. and i had them for lunch six months ago. maria: i remember. >> they were telling me in india they charge 100%. maria: you said that. >> i think i taught them more about tariffs than i could ever learn. let me ask you a question, how much you pay in india? 100%. i got them to reduce the tariffs in india because they used that as an example. all of a sudden harley leaves. everyone else is coming in. they are one of the few. everyone else is coming in. i have a feeling that maybe harley --

markets which is contract in recent years harley davidson has their sales have dropped by eight and a half percent sales abroad have dropped by three point nine percent the announcement of the plant closure came just days after harley davidson said they too would provide shareholder dividend increases the iconic motorcycle company was touted by both president trump and speaker of the house paul ryan as examples of businesses which would be big beneficiaries from the tax cut law and this is it appears that the benefits from the new law are being used to outsource jobs and pay shareholders in a contract in market. or not to tax was once upon a time undoubtedly the question but as a civil society we've long ago passed the point of if there will be taxes the question by most policymakers is who or what will be taxed and how much and here to provide his seasoned and professional perspective we are joined an honor to be joined by richard wolffe a professor emeritus on economics at the university of metal because that's and her professor thank you again for being with us and very grateful fo

host: the harley-davidson ring, are we likely to see more? harley-davidson announced they would move some of their manufacturing in the coming years overseas. guest: harley-davidson caught the attention of residential because he has held the company as an example of american manufacturing. they will make motorcycles for sale in the united states, but they are being squeezed by both administration's trade actions. paying higher prices for steel, and important part for their product and automobile manufacturers in the united states. 6 million workers work in industries that depend on steel. harley is getting squeezed on the export side. the europeans have imposed harleys. what harley davidson has done is relocating some manufacturing to thailand, not to make motorcycles to reimport to the united states, but to sell from thailand to europe, so they get around the trump trade administration actions. they don't have to pay higher prices for steel or duties on their motorcycles to europe if they are made outside the united states. you see it every

who will be after harley davidson?a foregone conclusion and it had to do with the tariffs. >> this episode shows that, in the trump administration, you can go from poster child to piranha in a new york minute. depending upon what your reactions are. in many ways, what we have seen over the past 24 to 48 hours with harley davidson, the continental, these are just the canaries in the coal mine for what is going to be a slew of other corporate actors following suit. >> general motors in the past few minutes announced it could cut u.s. jobs because of auto import tariffs. as far as i can tell, gm is not talking about specific tariffs. is it talking about the eu, canada, all of it? >> they are talking about the investigation that would slap potentially big tariffs on imported vehicles. gm does not like where this is going. they import a few cars from europe, a little bit from china, quite a bit from mexico. what they are saying if you taxing vehicles, there's or anyone else's, you will reduce auto sales, reduce jobs. >> ube

we'll hear from harley-davidson ceo. it's a cnbc exclusive interview.tay tuned bcg quk x"n in"sawbo o cn need a change of scenery? the kayak explore tool shows you the places you can fly on your budget. so you can be confident you're getting the most bang for your buck. alo-ha. kayak. search one and done. we all want to know you know, the new, new thing. with xfinity's retail stores, you can now see the latest. want to test drive the latest devices? be our guest. want to save on mobile? just ask. want to demo the latest innovations and technology? do it here. come see how we're making things simple, easy and awesome. plus, come in today and ask about xfinity mobile. a new kind of wireless network designed to save you money. visit your local xfinity store today. >>> harley davidson making big news this morning. morgan brennan joins us now with the ceo. good morning >> good morning. after three straight years of declining sales, harley-davidson is finally showing new plans more affordable bikes and new ways to buy harley gear. this will jump start a hundr

>> again, the president has been a huge advocate of harley-davidson and is very disappointed on harley-davids harley-davidson's-- >> did he ask them to stay. yes. >> did they turn him down? . i don't know the status. >> i'll yield back my time. >> and recognizing the monetary and subtrade committee. mr. president, i promote fair and reciprocal trade. since we're on the topic, i'll stay on the topic for a while. i appreciate that you and the administration monitor the tariffs. i have concerns that tariffs and retaliatory measures on american industries could very well suppress or even reverse the record level of growth and job creation we've seen under your leadership and the president's leadership and the booming economy. as we've discussed, my home state of kentucky's signature bourbon and distilled spirits industry accounted for more than $450 million in exports worldwide 2017. of that, nearly 200 million was exported to eu countries, where the market for bourbon has been growing at record levels in recent years and extended trade war would not only harm that iconic industry, but also kentu

open an account today. >>> welcome back, after three straight years of declining cease, harley-davidsonthe nuts and bolts of its turn around plan even a series of electric motorcycles. also new ways to buy harley gear including new e commerce and the company is betting on growing international righters i sat out with ceo of matt levatich to discuss the multiyear strategy here's criticism including from president trump. take a listen. >> we have been working on this for the last six months. this is an unfortunate condition in the middle of work that we would like to do we would like to invest that money differently, we would like to spend our time differently. but behave to deal with the facts that are before us >> when you're talking about $2,200 more per unit it becomes a more difficult conversation with you and your board? >> it becomes a decision -- the first decision is protecting our te customers in the market. and we have to find ways to mitigate that cost, because we would rather invest in what will help grow the business not just maintain the business. we would rather not be spe

trade now here's a funny sidelines of the whole trade dispute trump has been very critical of harley davidson for wanting to pull out some of its production out of the u.s. and move it abroad to keep these europeans herefords. but trump is attracting internal ones to attract motorcycle companies from abroad the very companies that i guess he wouldn't want to be doing business in the u.s. i don't know explain the situation to me. yes there's a certain irony in this as we're talking about companies coming from china from china from japan from germany you know b.m.w. produces motorcycles but this is probably not the aspect which is more most important to trump he wants to create more manufacturing jobs in the united states he's not interested in the well being of american companies per se the spat about harley davidson has shown this interesting stuff they're going to boozing with the analysis from frank before it's. china is pumping more money into venezuela and the venezuelans continue to pump crude at rock bottom prices to power the globe second biggest economy the south american nations oil

president donald trump has lashed out at american motorcycle make a harley davidson trump saying that the administration is courting motorcycle companies that want to move to the united states that's off the harley davidsons that it's moving some of its assembly overseas now harley davidson announced last week that it's moving production of motorcycles sold in europe to facilities in india and brazil the company blamed decision on tariffs imposed by the european union to retaliate the tariffs that trump imposed on a host of a new products. let's bring in our financial correspondent now canada goose and a fresh but first conrad trump says that he wants to now what tracked other motorcycle firms to the united states but on some of these companies from the regions that he's trying to punish in this trade dispute. absolutely there is a certain irony in this as we're talking about brands from countries like italy germany japan b.m.w. honda. but you know. this is not this doesn't seem to be really important to the u.s. president despite his constant lashing out on twitter despite the nation

motorcycle maker harley davidson announced it was moving some of its production overseas to avoid steep tariffs imposed by the european union. the e.u. action came after president donald trump slapped tariffs on european steel and aluminum harley davidson says it sold forty thousand motorcycles in europe last year it's not yet clear how many workers will lose their jobs trump tweeted surprised that harley davidson of all companies would be the first to wave the white flag asked about the wisconsin based manufacturers decision white house spokesperson sarah sanders defended trump's trade policies the european union is attempting to punish u.s. workers with unfair and discriminatory trade policies and president trump will continue to push for free fair and reciprocal trade and hopes that the e.u. will join us in the meanwhile soybean farmers in the midwest are dreading the prospect of china taxing their product in retaliation for trump's tariffs on chinese goods so would be futures are already at their lowest in nearly a decade export twenty five percent of your products any time your sto

that's off the harley davidson said it's moving some of its assembly overseas now harley davidson announced last week that it is moving production of motorcycle sold in europe to facilities in india and brazil the company blamed the decision on tariffs imposed by the european union to retaliate for terrorists that trump imposed on a host of e.u. products now of course some of the other big companies that trump is referring to include those from europe and asia so motorcycle makers like yamaha honda b.m.w. to katty of course regions that the u.s. president is looking to penalize in ongoing trade tensions now politicians on a tourist to save a disappointing news for otherwise busy days and just as the football world cup rolled around the russian government announced a sweeping pension reform pushing up the official retirement age but world cup would know world cup reform is facing resistance. it's been a long day and older plate minge of a needs a cup of tea after thirty years of working as a hospital doctor she was planning to retire next spring and just on a bit on the side but now the fift

motorcycle maker harley davidson announced it was moving some of its production overseas to avoid steep tariffs imposed by the european union. the e.u. action came after president donald trump slapped tariffs on european steel and aluminum harley davidson says it sold forty thousand motorcycles in europe last year it's not yet clear how many workers will lose their jobs trump tweeted surprised that harley davidson of all companies would be the first to wave the white flag asked about the wisconsin based manufacturers decision white house spokesperson sarah sanders defended trump's trade policies the european union is attempting to punish u.s. workers with unfair and discriminatory trade policies and president trump will continue to push for free fair and reciprocal trade and hopes that the e.u. will join us in the meanwhile soybean farmers in the midwest are dreading the prospect of china taxing their product in retaliation for trump's tariffs on chinese goods futures are already at their lowest in nearly a decade export twenty five percent of your products any time your stock start tal

bn calling out harley-davidson. >> harley-davidson is saying we're going to send production overseasbecause of our tariffs, should you be calling out specific companies you are the president. >> yes, i should, look, i devoted a lot of time to harley-davidson treated them good i guarantee you everybody bought a harley-davidson voted for trump i don't know if you know they call bikers for trump. >> -- they are very unhappy about it very unhappy. now, we just proposed this a few days ago, about they made this deal the beginning of the yearlong before they heard of the word tariff made this deal the beginning of the year, i don't think they should do it i think harrell american bike american motorcycle about should build in this country should not play cute i had them for lunch six months ago telling me in india they charge -- >> i told them more about tariffs let me ask you how much do you pay if india. >> one hundred percent. >> do you do much business. >> no. >> i am telling them i said that is a shame i got them reduce tariffs in india because they used that as example harley leaves

we have it from harley davidson and whirlpool for example. but it's affecting them in very different and in the case of harley unexpected ways. >> that's the key is there are still surprises to be had. it's very hard to predict the company's fortunes with trade tensions going back and forth. harley was sort of the poster child for the tariffs because the european union responded with tariffs on harleys. you can see from that chart a are still down pretty nasty for the year. mainly because they were very nimble and able to navigate the tariff issue very well. they shipped a lot of motorcycles overseas to europe to get a harris -- get ahead of the tariffs. whirlpool on the other hand, the big surprise was on the downside. their costs mainly steel keep going up. they are talking about $350 million in commodity inflation costs for them. much more than they had previously expected. that's why you are seeing the absolute wipeout in those shares. you have your head wrapped around the winners and losers from the tariffs but there will always be surpri

. >>> harley-davidson another american icon that has dealt with its share of trade related issues. today the company says it plans line l out an expanded of -- lineup of smaller bikes in an international push for growth. in an interview with cnbc, the ceo defended the company's decision. a decision that drew criticism from president trump. >> certain commodities like grain and soybeans are traded off against otherhings like motorcycles in the basket of nations.ween and so picking on one specific thing like motorcles and assuming it's going to be easy ff change, that's where it gets complicated and ult. the administration is working hard on this issue. we have endured tremendousnd economic noneconomic trade barriers in our international growth. we have competed on our merits, 've done very well, we're in over 100 countries now around the world, and we're doing well, despite some of these things, we would like a little bit more of a playing field, because we think we can do even better. do you think we'll ultimately get that. all of this is to get to that place. >> i -- they are abso

harley-davidson as well.details of both of those numbers and talk to analysts who cover those companies. also up next china trade relations hitting the currency markets we'll discuss what it means. leland miller will join us who would have thought, who would have guessed? an energy company helping cars emit less. making cars lighter, it's a good place to start, advanced oils for those hard-working parts. fuels that go further so drivers pump less. improving efficiency is what we do best. energy lives here. improving efficiency is what we do best. whoooo. you rely on tripadvisor so you don't miss out on the perfect hotel... but did you know you can also use tripadvisor so you don't miss out on the best price? tripadvisor searches over 200 booking sites to find the hotel you want for the lowest price. saving you up to 30%! so you can spend less time missing out... and more time paddling out! tripadvisor. visit tripadvisor.com or download the app! we all want to know you know, the new, new thing. with xfinity's

david: a medium-sized business -- harley davidson -- let's trek through exactly what happened.president trump was closely aligned -- his brand was aligned with the harley davidson brand. motorcycles came to the inauguration. there was a time harley davidson decided that was not a good idea , because they are getting retaliated against with tariffs. they released a statement to indicate new tariffs are not the it onlypreference, and has one option to maintain a viable business presence. it seems like a reasonable position. the president did not like that very much. deirdre: the mistake i think harley made from a reputation standpoint is associating to closely with the white house and the first place. any company in today's world, you have to be suspect of going -- even though at the time it seemed like a good idea to go to the white house and be in the good graces. in the long run, you have to be wary of that. the reality is harley is such a strong brand -- they have had a tough year. the stock has had a tough year. they need to do what is right for the company. the harley owner

harley davidson has made motorcycles overseas for 20 years. they have got facilities in brazil and elsewhere. all the bikes that are made for the u.s. market are made here in the u.s. but he was strong in saying, harley voters voted for me, they support me on this, whereas really it is not so much a u.s. issue. he is not giving any ground on this, and having tweeted about harley davidson on three consecutive days last week, we know his position. we will have to see what transpires next. thank you so much for ros krasny, our editor in washington. very eventful weekend. let's get you caught up to date with first word news. paul: the world's biggest is a step closer after asian ministers said a deal could be signed this year. the 16 nation regional partnership includes china and india, but not the united states . japan says it is vital asia flies the flag of free trade in the face of growing protectionism. they are one third of the economy and almost half the politburo nation. -- the population. standards,ving high unlike the tpp, we include coun

harley-davidson is great example of that. neil: right. >> they had 700 million stock buyback with the corporate tax cuts, a great sign of progress but now with the threat of eu retaliation they're moving some production eye broad. neil: the president got that, that the they were using trade thing as excuse to do something they always wanted to do but he didn't lash out against gm? >> i think it is harley-davidson's americanness he is talking about. resonates with his base. it is americana company and that is, seeing them moving abroad i think really struck a chord with the president. neil: i think you're absolutely right. erica, thank you very, very much. "axios" reporter, erica pandey. large international concerns, boeing, deere, some of the others outside the dow, they would be ones most vulnerable to a hit and they are getting hit. more after this. ♪ man: i got scar tissue there. same thing with any dent or dings on this truck. they all got a story about what happened to 'em. man 2: it was raining, there was only one way o

harley davidson did beat but they warned about the potential of the new european tariffs on the profits's on the upside and 3m lowered the top end of their guidance i love to follow retail trading activity we had good numbers this week. generally good numbers from "t- td ameritrade. the cash on hand for the clients are near record low they're taking the cash and accounts and trading stocks you could say that's a contraried indicator when the retailers start throwing their money in, it's a sign. bottom line, it's an overall good for them. finally, i want to mention obmh, the number one luxury retailer in the world they'll report after the close number one in champagne andlet are goods a -- leather. now we're near the highs today back to you. >> bob, thank you very much. let's get to the bond pits, too. and check in with rick santelli. good morning >> reporter: good morning, carl. we see treasury rates, european rates continue to move higher. look at a two day of two-year. we traded at 264 plus yield. we continue to extend our 10-year run with respect to the last time the 2-year yells wer

when he talks about how harley davidson voters or harley ers, they all voted for him and are angry withhe company. i'm not sure that's the case. he also was asked, do you think it's right to single out companies for chris's him when you don't like their policies? he says it's fine. it's good for me to do that. i don't know what the next step would be for the white house in regards to harley davidson, but we'll wait and see. yvonne: it will be the sum of all the parts why it comes to car manufacturers, including harley davidson. now for some first word news. we are looking ahead and talking about the weekend, the world's biggest trading block is a step closer after a deal could be signed this year. the economic partnership includes china and india, but not the u.s. japan says it's vital that they fly the flag of free trade. our staff would cover one third of the world economy and half its population. >> we are being flexible in our discussion while maintaining high standards. includese tpp, ours different stages of development, and we have to be flexible in taking this into account. the

washington is courting major cycle companies that want to move to the united states us off the harley davidson said it's moving some of its assembly overseas holly davidson announced last week it's nearing production of motorcycles sold in europe to facilities in india and brazil the company blamed the decision on terrorists imposed by the european union to retaliate for tariffs the trump imposed on a host of products. so let's check in with our financial correspondent khana who is at the frankfurt stock exchange dress code red trump says that he wants to attract motorcycle firms from other countries but on some of those regions the ones he's locked in trade battles with. yes there is a certain irony in this as we're talking about motorcycle makers like b.m.w. to carty or honda which come from germany italy and japan and i can tell you on the financial markets the talk about trade is really still the most dominating topic today as the july six headline is looming this is the day when washington said it would impose import tariffs on chinese goods worth up to thirty four billion u.s. dollars an

tariffs taken a toll on harley davidson reported earnings a few weeks after announcing a plan to move some motorcycle production overseas to europe because of the retaliatory tariffs from europe. harley david and was lambasted by president trump. we slapped import tariffs at the beginning of the hearing world pool is still struggling because of the other tariffs from the steel and aluminum tears. >> they're causing a lot of problems in their second and third effects are not. revenues down 12.3% in the current quarter. a lot of that has to do with raw material costs. some of it has to do with foreign exchange with the united dates economic data better than other parts of the world. a stronger dollar will squeeze companies like world pool, harley david and produced here in the united states. they loosen the translation. you also had demand lower from overseas because consumer demand is not keeping up here. how we get along in the various waves and winds of change in the global economy. >> 's aching from the white house on our experts ahead of the meeting with the european commission pre

let's talk now about harley—davidson, that simon and i we re harley—davidson, that simon and i were justould pick up one of the point that i would pick up on is the fact that they are talking about their margins being cut significantly. but their gross margins were produced the up on 20%, andi margins were produced the up on 20%, and i think it is pretty elevated, and i think it is pretty elevated, and a number of companies would have liked it. even if we are seeing how those margins can be cut in half, they are still making or having a reasonable degree of profitability. it is fascinating, club because president trump realised after the event that harley—davidson already had four factories outside of the us, two in asia and one in austria and south america. the obvious area where it is a gap between europe, and of course, if this trade war we re and of course, if this trade war were to really ramp up, then perhaps the company may be forced to continue a another operation outside the us, may be looking at europe. lastly, superdry, he surprised by the extent in which the share price has d

to meet donald trump there to talk trade and of course terror is already implemented also on harley davidson and they also presented figures. and they also presented figures and there were not really good investors were already prepared that most likely they wouldn't be a very good we have to remember that he was president donald trump was in this open dispute with harley davidson when they announced that they would relocate some of their production facilities because of those steel and elam many tears so now their net profit went down by six percent to two hundred forty two point three million u.s. dollars and also their sales figures went down by one point five percent of identical in frankfurt thank you so much for the update. and here's a quick reminder of the top story we're following for you pakistan has begun voting in parliamentary elections the poll pits the party of the ousted prime minister against almost like it's hot in iran causing the military has been accused of favoring calm and such. you're watching to. move. on to. saving money at all costs to. consumers hunting for bargai

they are about to get squeezed, like harley-davidson, from both ends. mexico.ioned canada and they are the number one and number two markets for u.s. goods. the european union, if you look at the european countries together, they are the top. number seven, great britain, i should say. china is number four. you makeness model do your self prosperous by picking a needless fight with your for best customers? customers?t host: independent line. america,ood morning, and good morning to the freedom fest going on in las vegas this weekend. i am from a border state. in alaska. the red dog min produces china 's zinc. ridiculous. is we are spending money importing. if we make it here, you get a high-quality product every one wants. the world wants our products. china's products are inferior. they keep all of the good stuff home. they get all of our good stuff that they buy. it is not equal. immigration and trade are related, because if we lose jobs by shipping manufacturing inrseas, and we bring illegal workers by the millions, what is the difference? do you want

up with examples where you have groups like the chamber of commerce, business roundtable, gm, harley davidson look, we don't want these tariffs, particularly automotive industry. trump's talking about tariffs on all imported cars. nobody in the automotive industry in the united states wants that. because the supply chains are completely global now. they get parts from abroad, assemble the cars here, sell them abroad. so you get farmers who are worried about soybean exports to china. there's just not a lot inside corporate america who want to see this. >> or inside his base. you've got a situation where you have 40 countries according to reuters at least who are objecting to these tariffs. i mean, people who vow, who he vowed he was going to help on the campaign trail, what happens? >> well, he's counting on that base to be with him even if they see some short-term dislocations in their industries, that ultimately they'll believe he's fighting for them and more manufacturing in the u.s. we'll see if that actually plays out. we're about to see these tariffs go into effect. >> a mail company. >>

. >> one of the big ironies is that harley davidson was looking to move to thailand because the u.s. pulled out of tpp and american made bikes would be hurt. and then steel and aluminum hurt, and three ways harley davidson got screwed by the president's trade policy and people look at them as being unpatriotic. >> so john, can explain the political calculus here. that the avisors decided that the farmers who will be hurt don't hurt at the polls as much. >> this is on the president's long-term to-do lust. he has a longstanding belief that trade imbalances are really simple. if you look at the countries or the states most likely to be hurt by these tariffs, iowa, soy beans, pork, nebraska, illinois, they are states that trump won handedly. these are states that trump relied on. i don't think they're playing clesz and thinking several years out. this is high takes. people don't know what they're going to have happen every time they walk into the administration and walk out. >> yeah, they are die metically opposed views. they don't know where the president will end up. >> the president i

government is encouraging motorcycle companies to move to the united states that's after he slammed harley davidson for deciding to move some assembly from the european market before the european market from the u.s. to factories in china and brazil it blamed the decision on tariffs imposed by the european union to retaliate for tariffs trump imposed on a host of new products of course some of the other big companies trump is referring to include those from europe and asia the likes of germany on the b.m.w. and got the regions the president is looking to penalize in order to trade or in the ongoing trade tensions now you know how politicians are notorious for saving disappointment announcements for busy news day well the world cup is perfect for that during the event the russian government said it's pushing up the official retirement age world cup or not the reform is facing resistance to w.c. sort each reports. it's been a long day and olga played minge of a needs a cup of tea after thirty years of working as a hospital doctor she was planning to retire next spring and just a bit on the side but n

who which companies most at risk and revs the engine, harley davidson jumping on the back of results.t warns it takes a hit from the latest tariffs the details on trade ahead as "power lunch" resumes right now. >>> tyler is right it's a feast i'm michelle caruso cabrera. sfoks taking a leg lower the nasdaq losing 1.1% had been higher. and now it's negative territory by 12 points the dow and s&p well off of highs. the dow is up 160 po points, two thirds of a point. s&p higher by a third and point. and materials and energy leading. real estate and utilities lagging. materials and energy higher by more than 1% some specific movers, alphabet moving high are on a blowout quarter. higher by more than 3% unitedtology higher by 2. 5% ealey lilly announcing strong numbers that stock is higher by 4% steel stocks on the move the etf, slx on pace for the best day since late april. and look at this higher by more than 4% allegheny technology higher by 6.5%. >> i'm melissa lee a brand of goldfish cracker being recalled due to salmonella home prices rising 2 prt 2% in may. aprils number revised high