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.
Farmers should watch for settlement notices and gather dealer repair invoices, proof of payment, and equipment identification records.
OOIDA’s Lewie Pugh discusses a new bipartisan surface transportation bill, industry efforts to address regulatory concerns, investments in truck parking and freight infrastructure, and the outlook for transportation policy.
RealAg Radio’s Shaun Haney discusses the next generation of Canadian agricultural policy, producer priorities, concerns surrounding risk management programs, and what the framework could mean for agriculture on both sides of the border.
Farm groups and equipment manufacturers say lower tariffs could help reduce machinery costs and support producers facing tight margins.
AEM’s Kip Eideberg joins us to discuss tariff policy changes, their potential impact on agricultural equipment costs, and the outlook for the farm machinery sector.
Tariffs on combines, harvesters, and some farm equipment will be reduced to 15% until 2028.
