Deere Warns of Bigger Tariff Hit after Quarterly Profit Declines
Deere & Co reported a drop in third-quarter profit on Thursday and warned of a bigger tariff hit than previously expected, sending shares of the farm-equipment maker down 7% in morning trade.
U.S. President Donald Trump's sweeping tariffs have impacted companies across sectors, especially the manufacturing and industrial firms that rely significantly on imported raw materials.
This has added to the woes of farm-equipment makers who were already grappling with slow demand due to a slump in crop prices for wheat, corn and soybeans...
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