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The Harley-Davidson logo in Krakow, Poland. Photo: Omar Marques/Light Rocket via Getty Images

Harley-Davidson is set to move some of its motorcycle production out of the United States as a result of President Trump's burgeoning trade war with the European Union, reports Bloomberg.

The details: The EU's tariffs on Harleys will raise their prices by about $2,200, but, according to an SEC regulatory filing, the company plans to eat the $90 million to $100 million increase itself rather than pass costs along to customers.

The backdrop: Harley-Davidson's European business has been booming in recent months and, in its SEC filing, said that moving more production overseas is "the only sustainable option to make its motorcycles accessible to customers in the EU and maintain a viable business in Europe." Its European marketshare increased by 1.3 points to 10.4% last year and the company increased its sales by 6.8% since last year's first quarter, per Yahoo.

Go deeper: Read the entire SEC filing here.

Go deeper

Updated 14 mins ago - Politics & Policy

Trump departs on final Air Force One flight

President Trump and his family took off on Air Force One at 9 a.m. on Wednesday morning for the final time en route to Florida.

The big picture: Trump's final hours as president were punctuated by his decisions to snub his successor's inauguration and grant pardons to many of his allies who have been swept up in corruption scandals.

Updated 1 min ago - Politics & Policy

Inauguration Day dashboard

Screenshot: Fox News

President Trump has delivered a farewell speech and departed Washington for the last time on Air Force One, kicking off the day that will culminate with President-elect Joe Biden taking office.

What's next: The inaugural celebration for young Americans is being livestreamed, starting at 10am.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

Janet Yellen said all the right things to reassure the markets

Illustration: Aïda Amer/Axios

Treasury Secretary nominee and former Fed chair Janet Yellen's confirmation hearing before the Senate Finance Committee on Tuesday showed markets just what they can expect from the administration of President-elect Joe Biden: more of what they got under President Trump — at least for now.

What it means: Investors and big companies reaped the benefits of ultralow U.S. interest rates and low taxes for most of Trump's term as well as significant increases in government spending, even before the coronavirus pandemic.