Agricultural equipment maker John Deere missed its quarterly earning expectations, the company announced Friday. Quarterly sales were down 3% , with the company pointing to uncertainty in the agricultural sector as part of the reason for the losses.
Farmers are in the crosshairs of the current trade tensions between the U.S. and China. As they export agricultural produce, they are vulnerable to tariffs and market restrictions. Even the products they use on the farm are becoming more expensive with import tariffs.
Businesses in all sectors are holding back on investments in the uncertain trade environment, but with bad weather and lower global commodity prices, farmers are being particularly cautious about major purchases of things like combines and tractors from companies like John Deere.
Marketplace is on a mission.
We believe Main Street matters as much as Wall Street, economic news is made relevant and real through human stories, and a touch of humor helps enliven topics you might typically find…well, dull.
Through the signature style that only Marketplace can deliver, we’re on a mission to raise the economic intelligence of the country—but we don’t do it alone. We count on listeners and readers like you to keep this public service free and accessible to all. Will you become a partner in our mission today?