2331 GMT - Crop chemicals producer Nufarm's earnings likely aren't immune from tit-for-tat trade measures taken by the U.S. and China, contends Macquarie. The U.S. has imposed an additional 10% tariff on Chinese imports, prompting Beijing to respond. Macquarie highlights that 28% of Nufarm's earnings are from North America, and the company relies heavily on sourcing agricultural chemicals from China to sell into markets including the U.S. Nufarm's costs are likely to rise as the trade war unfolds. Still, Nufarm has some production in the U.S. and recently upgraded its manufacturing capacity in Australia so has "some ability to self-source," says Macquarie. It retains a neutral call on Nufarm. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 04, 2025 18:31 ET (23:31 GMT)
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