President Trump took another shot at iconic American motorcycle maker Harley-Davidson on Tuesday, saying on Twitter the administration was looking to work with rivals now that Harley announced production shifts in response to U.S. trade policy.
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A spokesperson for Harley-Davidson did not immediately return FOX Business’ request for comment. The company’s stock climbed during Monday’s trading session.
In 2017, global motorcycle sales at Harley-Davidson fell 6.7%, as U.S. sales declined 8.5%.
Last week, Trump slammed Harley’s decision to shift production out of the U.S. and threatened to tax the company “like never before.”
The Milwaukee-based manufacturer last week said it would be significantly impacted by the European Union’s retaliatory tariffs on U.S. products, including Harley bikes. To alleviate some of that financial burden, the company announced plans to shift production overseas to existing plants in Thailand, India and Brazil.
However, Harley said it was only moving production out of the U.S. to build motorcycles that will be sold in Europe. The company also said it is not building a new plant in Europe. Trump warned that the company would not be able to sell foreign-made motorcycles in the U.S. “without paying a big tax.”
Harley-Davidson said tariffs on motorcycle exports have increased by 31%, hiking prices by about $2,200, on average, per motorcycle. It expects the tariffs to add an additional $100 million in costs on a full-year basis.
In 2017, Harley-Davidson’s retail sales in Europe were second only to the United States, and accounted for nearly 42% of the company’s international sales. In the first quarter of 2018, Harley-Davidson cited Europe as an area where it experienced “strong results.”