Some of the thousands of Harley-Davidson riders enter Wenceslas Square in the heart of Prague, Czech Republic. (Photo: Mike De Sisti/Milwaukee Journal Sentinel)
Struggling with fallen demand for motorcycles, and higher costs from global trade wars, Harley-Davidson Inc. on Tuesday reported a 26% drop in first-quarter profits – while President Donald Trump threatened to launch a trade war with the European Union over tariffs imposed on Harley and other American companies.
“So unfair to U.S. We will reciprocate!” Trump tweeted after Harley said its net income for the recent quarter fell to $127.9 million, or 80 cents a share, from $174.6 million, or $1.03 a year earlier.
The president did not provide any detail on what actions he would take against the EU, but it’s