The instability of the customs tariff and the rest with China striking American companies hard, and the local factory John Derry is no exception

Moline included, Ill. This is partially due to instability related to definitions and economic battle with China. Last month, the company said it would achieve 238 production employees in Illinois and Iowa, Quoting from “The low demand and the size of a lower arrangement.”

In the third quarter, the company’s net profit decreased by a quarter compared to the same time last year, and its net sales and revenues around the world He falls 9 % to $ 3.9 billion, a decrease from $ 5.8 billion last year. The company also reduced its directives to its annual net profit during the end of the year.

In the latest call of the company’s profits, investor relations manager Josh Bell said that there are “pockets of optimism” through John Derry’s business, but they added that customers may feel definitions and instability.

“Given the basics of difficult industry, the development of the global trade environment and the constantly changing interest rate expectations, our customers are working in increasing dynamic markets, which naturally drives caution because they consider capital purchases,” Bell said.

Agriculture is an industry in a continuous flow. High crop prices mean that farmers can consider buying new tractors and equipment, but in difficult times they may buy used equipment or stop a large purchase. New tractors can cost tens of thousands of dollars according to their capabilities, and many farmers Dependence on credit For these purchases. Prices are low for major American crops: corn and soybeans. The atom sells 50 % less than its price in 2022, while the prices of soybeans decreased by 40 %, New York Times I mentioned.

John Derry agents, regardless of the confusion of definitions, face the opposite winds of an economic battle with China. In response to the escalation of Trump’s tariff, the world’s second largest economy took revenge on the definitions of US soybeans; Last year, China imported $ 13 billion – or nearly the maximum of the John Derry Copota competitor market. Soybeans’ imports to China decreased by 51 % this year, and the country has not made any advanced soybeans for the upcoming harvest, now I mentioned.

If John Deree customers make a fewer number 80 % of its sales in the United States And a quarter of its international sales.

John Derry did not respond immediately luckRequest to comment.

However, there may be a silver lining of Trump’s policies for John Derry. The company can take advantage of the changes to low rewards in A beautiful beautiful billIt passed in July, which gives farmers a tax break on equipment purchases.

Due to its strong local manufacture, the company may also be immune to customs tariffs on foreign imports of competitors Kubota, Fendt and Maahindra, which manufactures more of its products internationally.

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