Harley Says Crushing Tariffs Are Worsening Already-Weak Sales

Harley-Davidson Inc. said tariffs crimped profits in the second quarter as high borrowing costs sapped demand and forced the motorcycle manufacturer to cut production.

The Milwaukee-based manufacturer said the costs from direct tariffs or absorbing duties for its suppliers cost it $17 million in the first half of 2025, and expects that figure to increase to as much as $85 million for the full year. The company declined to provide new financial guidance after pulling its outlook in early May, citing a lack of clarity around US trade policy.