Major company hailed by Trump sees profits plunge as president leaves farmers reeling

Source: Raw Story

September 4, 2025 1:45PM ET


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.

Just two years ago the company reported record profit. However, Trump's tariffs and changing trade policies have shifted the business, making it more challenging and unpredictable for customers who rely on the agricultural equipment. Trump has cited the company as an ideal American manufacturer that he wants more of in the country.

Now the company reports significant losses as higher tariffs — mostly on steel but also aluminum — have cost John Deere $300 million so far and nearly another $300 million loss is expected by the end of 2025. The company laid off 238 employees in Illinois and Iowa factories over the summer.

Read more: https://www.rawstory.com/john-deere-s-profits-plunge-as-trump-leaves-farmers-reeling/?utm_source=superhead