By Bob Tita
Though China announced tariffs on U.S.-made farm equipment, manufacturers Deere, CNH Industrial and Agco face a bigger threat from a North American trade war. The companies' sales, supply chains and manufacturing sites are enmeshed across the U.S., Canada and Mexico.
CNH, whose brands include Case IH and New Holland, said Tuesday about $400 million of its imports would be subject to the 25% tariffs on Canada and Mexico. "Whatever will hit us on the cost side will be priced to our customers," CNH Chief Executive Gerrit Marx said during a call with analysts. He said the company is assessing options for relocating some production to reduce its tariff exposure. Relocations could take as long as 18 months to complete and would not be undertaken if the tariffs are likely to be short term, Marx said.
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(END) Dow Jones Newswires
February 04, 2025 13:42 ET (18:42 GMT)
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