Tariff retaliation leads Deere and Co. worried over future sales
BPC Staff Mar 22, 2018 | 4:13 pm
<1 min read time
86 wordsAll Latest News, Economic Development, ManufacturingRising trade tensions between the U.S. and trading partners are concerning officials at Deere and Co., reports Bloomberg News. U.S. tariffs on imports of steel and aluminum, proposed by President Donald Trump, have Deere “much more worried” about possible trade retaliation targeting American agricultural products, CEO Sam Allen said. Allen said American steel mill prices could rise by roughly 30 percent, and a curb on U.S. export earnings could happen at about the same time. Deere earns about 30 percent of equipment sales in exports.
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