Major company hailed by Trump sees profits plunge as president leaves farmers reeling
John Deere stocks have plummeted as President Donald Trump's tariffs have delivered another big blow to U.S. farmers.
As farmers see a lowering demand for some crops overseas, the company cites a 15 to 20 percent drop in large agricultural machinery purchases, the New York Times reports. That downward trend is expected to carry into 2026.
An American mainstay for the rural economy, the leading manufacturer says that metal tariffs would cost the company $600 million. It also cites climbing interest rates and a shifting global trade economy, prompting a challenging time for farmers to plan upcoming crop seasons. ...
Sep 04, 2025