John Deere predicts battered US farmers will cut purchases by $464 million

Published May 17, 2019 6:08pm ET



American farmers grappling with low crop prices and the loss of Chinese markets due to President Trump’s trade struggle with Beijing are likely to purchase $464 million less in tractors and harvesters from Deere & Co. this year than the manufacturer predicted.

The Moline, Ill.-based maker of John Deere tractors, which expected agriculture equipment sales to grow 4% this year to $24.1 billion, said Friday they will probably climb just 2%. The shift illustrates the growing damage from U.S. duties on Chinese imports and retaliation from President Xi Jinping, whom Trump is attempting to pressure into a trade agreement.

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