Ag manufacturers saw declining profits last year, influenced by low crop prices. Now, tariffs are another concern as the year kicks off.
The Association of Equipment Manufacturers says they are just trying to minimize the impact to farmers.
“At the end of the day, I do know the intent of the tools that are being exercised is to benefit the United States of America and to benefit farmers. So, with an industry that’s so heavily dependent on trade and a supply chain that’s so heavily dependent on global manufacturing, we have to pay close attention to it, making sure that there are no unintended consequences or any great effects,” said AEM’s Curt Blades.
Last year, AEM found all U.S. tractor sales fell around 24 percent. Blades says a soft market and high interest rates were the biggest factors.
