U.S./China Trade War: Deere Warns Of Weaker Earnings
FARMERS ARE BEING IMPACTED BY ESCALATING TRADE TENSIONS BETWEEN THE US AND CHINA
Des-Moines, IA (WOI) – The trade war between the U.S. and China is hurting American farmers.
Tractor maker Deere reported earnings on Friday that fell below estimates.
The company said market uncertainty is causing farmers in the U.S. to be more cautious about major purchases.
Deere’s stock fell 4% in early trading Friday.
The stock is down about 6% this year.
Deere isn’t the only farm equipment company reporting struggles as trade tensions continue to escalate.
The company Caterpillar, which makes tractors and other agricultural tools, is trading lower this year.
Shares of Deere’s European rival, Dutch-Anglo based CNH Industrial, are also in the red this year.
This, as officials in the U.S. and China have threatened to impose increased tariffs while negotiations seemed to have stalled between the two countries.