(Bloomberg) -- The U.S. will respond to the European Union’s tariffs on motorcycle-maker Harley-Davidson Inc., which has shifted some production overseas to avoid rising levies, President Donald Trump said.
“So unfair to U.S. We will Reciprocate!” Trump said Tuesday on Twitter in a post that quoted Fox Business Network anchor Maria Bartiromo.
Harley-Davidson reported slumping first-quarter profit Tuesday, though it beat analysts’ expectations.
Harley is moving some U.S. production overseas to sidestep EU tariffs that jumped to 31 percent from 6 percent after Trump hiked levies on steel and aluminum imports.
The company’s move sparked the ire of Trump, who said he’d back a boycott of the company’s bikes. Tariffs will cost the company between $100 million and $120 million in 2019, executives said in January.
Trump is scheduled to hold a political rally in Harley’s home state of Wisconsin later this week. He said on Twitter the rally will be held Saturday night in Green Bay.
(Adds Green Bay rally details in last paragraph.)
To contact the reporter on this story: Terrence Dopp in Washington at tdopp@bloomberg.net
To contact the editors responsible for this story: Kasia Klimasinska at kklimasinska@bloomberg.net, Laura Curtis, Kathleen Hunter
©2019 Bloomberg L.P.
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