By John Keilman

Polaris said President Trump's tariffs on Chinese goods are giving its rivals an edge, and the off-road vehicle maker is lobbying Washington for relief.

The Minnesota-based company makes motorcycles, snowmobiles and other vehicles at factories in the U.S. but imports many components from China. New tariff costs on those goods could reach up to $240 million this year, the company said.

CEO Mike Speetzen said that has put Polaris at a disadvantage to competitors who also use Chinese components but assemble vehicles in countries such as Mexico, allowing them to import finished products into the U.S. at lesser rates.

It's a familiar argument-Polaris has made it repeatedly since President Trump imposed tariffs on China during his first administration-but Speetzen said it is getting a sympathetic hearing from administration officials and members of Congress.

"We believe the Trump administration understands our issues, and we remain hopeful that productive negotiations on tariffs between the administration and key countries will progress in the near term," he said.

Even so, Polaris withdrew its financial guidance for the full year, citing uncertainty over tariffs. Its first quarter sales of $1.5 billion and adjusted loss per share of 90 cents were down year-over-year but in line with Wall Street expectations.

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April 29, 2025 12:30 ET (16:30 GMT)

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