Harley-Davidson's stock sinks, sees EU tariffs adding $2,200 to average motorcycle cost

Shares of Harley-Davidson Inc. HOG, -5.69% sank 2.7% in premarket trade Monday, after the motorcycle maker said the European Union tariffs on the company's motorcycles increased to 31% from 6%, and will increase the cost of the average motorcycle to the EU from the U.S. by about $2,200. The company said it won't raise its suggested retail prices or wholesale prices to dealers to cover the costs of the tariffs, because it believes passing on the tariff costs would have an "immediate and lasting detrimental impact" to its business in the region.

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