By Bob Tita
China's retaliatory 10% tariff on imports of U.S.-made tractors, crop harvesters and other farm equipment is likely to have a minimal effect on U.S. equipment makers, analysts say.
Farm equipment exported to China amounts to about $500 million a year, according to a Jefferies analysis of Census Bureau data. The firm estimated U.S.-made machinery exported to China accounts for about 1% of Deere & Co.'s sales, and likely includes road paving and construction equipment as well. Deere's total equipment sales last year were nearly $45 billion.
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(END) Dow Jones Newswires
February 04, 2025 13:47 ET (18:47 GMT)
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