Ag equipment sales have dropped over the past year, and analysts expect that trend to continue. However, one economist is more concerned about another area that remains vulnerable as tariffs persist.
“If you move upstream to the agricultural input industries, the John Deeres, the Cases, and so on, that’s a huge concern. We will probably create exemptions or cutouts for most of the higher-value, higher-cost elements in agriculture, but I think it is really straightforward. It’s corn and soybeans. It’s apples. It’s almonds. It’s pistachios. It is some version of processed and canned and easily shipped things,” said Bruce Sherrick with the University of Illinois.
Ag inputs, like feed ingredients and fertilizers, are exempt from higher tariffs for now, but ag equipment makers are feeling the effects. AgCo and CNH both reported double-digit sales drops last quarter. Leaders at AgCO say they are staying nimble amid the uncertainty.
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Sen. Roger Marshall explains which types of beef are imported into the United States, how there’s room for new imports, and logical reasons for current high prices.
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Lyndsey Smith with RealAg Radio discusses how global trade dynamics could shape the future of Canada’s pulse exports.
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“Farmers for Free Trade” warns that disaster is brewing as President Trump’s trade policy is causing farm input costs to rise even more.
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