Wednesday, September 25, 2024
President Donald Trump: DO NOT slam John Deere with a 200% tariff
Editor's note: Any plans that Donald Trump has for a 200 percent tariff on the iconic US manufacturer John Deere will destroy US agricultural production. This threat is based on John Deere moving portions of its manufacturing to Mexico. John Deere is a corner stone manufacturer of the entire US farming industry with 60 percent of their income coming from American farmers. Protectionism sounds great on the campaign trail but in reality this will break supply chains in the US. Inflation is driving prices on farm production through the roof and that only further threatens American farmers. Any tariff on John Deere will put enormous pressure on US farmers. The reason John Deere was forced to go south is because manufacturing in the US is just too expensive. The ultimate loser in this scenario will be the American consumer who are already facing higher food costs. As it stands right now the US is importing more food than it is exporting and this should be a major concern to all Americans. If food production costs go up in the US other countries will simply buy food from other countries. This is going to have serious consequences on US national security and the US trade deficit. This is why China cancelled a ton of wheat shipments from the US recently.
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