President Trump Isn’t Thrilled with Harley Davidson Moving Production Overseas

In an effort to offset tariffs, Harley-Davidson announced in a regulatory filing on Monday that it would be moving some of its production overseas.

The well known American motorcycle company said that the European Union’s retaliatory tariffs are why they have decided to move some production overseas.

Europe is the company’s biggest market outside of the U.S. and makes up 16% of the company’s sales.

President Trump tweeted, “Surprised that Harley-Davidson, of all companies, would be the first to wave the White Flag. I fought hard for them and ultimately they will not pay tariffs selling into the E.U., which has hurt us badly on trade, down $151 Billion. Taxes just a Harley excuse – be patient! #MAGA”

Harley-Davidson said in the regulatory filing that the retaliatory measures raised duties on U.S. made motorcycles from 6 percent to 31 percent.

In an attempt to “avoid the tariff burden”, the company is shifting some of its production to facilities overseas.

Shares of the stock fell in Monday trading after the announcement.

Disclaimer: We have no position in Harley-Davidson Inc. (NYSE: HOG) and have not been compensated for this article.