A Deere in the Tariff Headlights

The farm equipment maker takes an earnings hit and lays off workers.

WSJ editorial. Excerpts:

"company is laying off 238 workers"

[they] "reported a 26% drop in net income and 9% decline in sales, owing to lower commodity prices and higher tariffs."

"many U.S. manufacturers rely to some extent on imports of components and raw materials. Caterpillar Inc., another great U.S. manufacturer, has said tariff-related costs could reach $1.5 billion in 2025"

"U.S. trade policy is now far from reciprocal as Mr. Trump imposes tariffs even on countries (50% on Brazil) with which the U.S. has a trade surplus."

[there are] "damage across the economy in higher costs from new border taxes and fewer sales from retaliatory trade measures" & "lower exports to China"

"The overall U.S. agricultural trade deficit hit a record in the first half of this year, rising to $28.6 billion."