By Kelly Cloonan
Farm- and construction-equipment stocks rose after President Trump placed a 90-day pause on reciprocal tariffs for most trading partners.
CNH Industrial led the climb, up 11% to $11.47. Deere rose 9% to $448.72 and Caterpillar climbed 8% to $296.83. Tractor Supply also rose, up 6%.
The stock moves follow days of declines for the industry after Trump unveiled initial reciprocal tariff plans last Wednesday. Analysts have worried a trade war, including China's 10% tariff on U.S. soybeans, will weigh on U.S. farmers and, in turn, agricultural machinery sales.
Trade war worries have added further pain to the industry's slowing sales and excess inventory. Deere, the world's largest seller of farm equipment, saw its profit cut in half last quarter from a year ago.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 09, 2025 15:39 ET (19:39 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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