WSJ: Tractors Take Hit from Tariff Trickle Down

According to the Wall Street Journal, manufacturers of tractors and other farming equipment report weak demand for new equipment as the industry’s on-going slump continues to be exacerbated by trade tensions between the U.S. and China.

The Journal reports even the secondhand market has become saturated, with many manufacturers turning away customers trying to turn in used equipment due to excess stock.

Manufacturers have adjusted 2019 projections accordingly, says the Journal, with Deere & Co. planning to cut production by 20% and CNH expecting to pay between $50 million and $100 million in tariff-related costs.

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