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May 17, 2021, 10:21 a.m. EDT

Harley-Davidson stock surges toward 3rd straight gain, after E.U. decision not to raise tariffs

Shares of Harley-Davidson Inc. (NYS:HOG) jumped 3.9% in morning trading, and have run up nearly 10% amid a three-day win streak, as the motorcycle maker was set to benefit from the European Union's decision to postpone plans raise tariffs on some U.S. goods , including motorcycles. "We are encouraged by today's announcement that tariffs affecting our products will not escalate from 31% to 56%," said Chief Executive Jochen Zeitz. "Harley-Davidson employees, dealers, stakeholders and motorcycles have no place in this trade war. These tariffs provide other motorcycle manufacturers with an unfair competitive advantage in the E.U. European motorcycles only pay up to 2.4% to be imported into the U.S." The stock, which is up 9.9% the past three days, is now within sight of its three-year closing high of $49.92 on April 28. It has soared 35.0% year to date, while the S&P 500 (S&P:SPX) has advanced 10.8%.

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