Aug. 14 at 5:01 PM
🚜 Deere
$DE has warned that for the current fiscal year, tariff-related costs could reach nearly
$600 million before taxes.
📊 In its latest quarterly report, the company revised upward the impact of tariffs: it now expects an annual cost of nearly
$600 million USD, compared to the previous
$500 million estimate from the prior quarter. In particular, in the first nine months (or third quarter), tariffs have eroded around
$200 million USD in profits.
🏭 Deere has made the best of a bad situation: it is optimizing production and supply chains, also considering relocating some manufacturing lines, and leveraging NAFTA to benefit from tariff exemptions where possible. However, raising consumer prices remains a very limited option, given the decline in agricultural demand.
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