President warns Harley-Davidson: 'We won't forget'

Trump Harley-Davidson

Harley-Davidson's chief executive officer Matthew Levatich called President Trump "a moron". Add Donald Trump as an interest to stay up to date on the latest Donald Trump news, video, and analysis from ABC News.

President Donald Trump is denying that his trade policy is responsible for Harley-Davidson's decision to some motorcycle production overseas.

European Union officials, meanwhile, suggested Trump had only himself to blame for the falling-out with a company he had previously hailed as "a true American icon".

Trump himself once said, "Harley-Davidson is a true American icon, one of the greats". "I've done so much for you, and then this". Companies are now coming back to America. "We won't forget, and neither will your customers or your now very HAPPY competitors!" The Aura will be gone and they will be taxed like never before!

"A Harley-Davidson should never be built in another country-never!" he said on Twitter. That was long before Tariffs were announced.

On Monday, Harley-Davidson in its US Securities and Exchange Commission (SEC) filing had said that the new retaliatory tariffs by the European Union (an increase from six per cent to 31 per cent) will result in an incremental cost of approximately $2,200 on an average motorcycle exported from the US to the 28-member trading bloc.

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Harley-Davidson announced the closing of a factory in Missouri in January, but the reason for that was slumping domestic sales numbers. Harley-Davidson is using that (tariff on steel and aluminum) as an excuse.

It was unclear what taxes Trump was referring to, and why the company might have to pay them, since it will maintain production in the United States for US customers.

It said that shifting targeted production from the U.S. to global facilities could take at least nine to 18 months to be fully completed.

S&P says it will resolve the credit watch after Harley's second-quarter earnings.

Harley already has assembly plants in India and Brazil.

Trump first responded angrily to the Harley announcement on Monday, saying he has supported the 115-year-old manufacturer and was surprised by its plans, which he described as waving the "White Flag". "These global facilities exist to support more competitive pricing by eliminating much of the tax and tariff burden imposed on fully assembled Harley-Davidson motorcycles imported into key worldwide markets".

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