(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 a person speaking on Fox Business Network.
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.
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