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The Daily 202's Big Idea

Trump’s trade war is causing layoffs and sending jobs overseas

The Daily 202's Big Idea

The Washington Post

Politics, News, Daily News

4.61.1K Ratings

🗓️ 26 June 2018

⏱️ 7 minutes

🧾️ Download transcript

Summary

Harley-Davidson's decision to move its production of motorcycles bound for European customers are another tangible display of the costs associated with the president’s so-called ‘America First’ agenda.

Transcript

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0:00.0

The Daily 202's Big Idea is sponsored by Delta.

0:02.8

At Delta Airlines, we're committed to donating 1% of our net profits to charities around the world.

0:07.4

For more information about Delta, visit Delta.com.

0:10.4

Good morning. I'm James Holman from the Washington Post and this is the Daily

0:16.3

202 for Tuesday, June 26th. In today's news, Republicans give up on passing an ambitious immigration bill.

0:27.0

Democrats distanced themselves from Maxine Waters, and the Supreme Court punts on redistricting and religious freedom.

0:35.0

But first, the big idea.

0:40.0

President Trump's trade war is causing layoffs and sending jobs overseas.

0:45.0

Harley Davidson announced on Monday that it will shift some of its production out of the United States,

0:50.0

seeking to escape Europe's new retaliatory tariffs on U.S. goods, which were triggered by

0:55.5

Trump's tariffs on steel and aluminum. Harley's decision to move its production of

1:00.1

motorcycles bound for European customers is another tangible display of the costs associated with this president's so-called

1:07.4

America First Agenda.

1:09.0

The announcement triggered a sell off on Wall Street

1:11.5

where the Dow closed down more than 300 points. Harley says the EU tariffs will add $2,200 to the

1:18.1

cost of an average motorcycle, which the company said in a filing with the SEC poses quote an immediate and lasting

1:25.1

detrimental impact to our business.

1:27.8

Trump naturally attacked Harley in a tweet for quote being the first to

1:31.9

wave the white flag.

1:33.3

In the short term, further escalation of the trade disputes

1:37.1

seems likely.

1:38.6

Not only is Trump in a trade war with Europe,

...

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