Lauren Taylor

FORMER PRESIDENT DONALD TRUMP HAS THREATENED A 200% TARIFF ON JOHN DEERE PRODUCTS IF THE COMPANY MOVES MANUFACTURING TO MEXICO, SPARKING DEBATE ON U.S. TRADE POLICY AND ITS IMPACT ON DOMESTIC MANUFACTURING. TRUMP ISSUED AN ULTIMATUM TO JOHN DEERE DURING A SPEECH AT A FARMING EVENT IN PENNSYLVANIA.

Donald Trump

“JOHN DEERE — AND ANYBODY ELSE THAT DOES THIS, BECAUSE IT’S HURTING OUR FARMERS, IT’S HURTING OUR MANUFACTURING, AND IF YOU DO THAT YOU’RE GONNA HAVE A 200% TARIFF PUT ON THE PRODUCTS THAT YOU MAKE IN MEXICO, RIGHT ACROSS THE BORDER,” TRUMP SAID DURING THE EVENT. “THEY THINK THEY’RE GONNA MAKE PRODUCT CHEAPER IN MEXICO AND THEN SELL IT HERE FOR THE SAME PRICE AND MAKE A LOT OF MONEY BY GETTING RID OF OUR LABOR AND OUR JOBS AND REALLY A GREAT NAME, BECAUSE JOHN DEERE IS A GREAT NAME.”

Lauren Taylor

TRUMP SAID HE PURCHASES A LOT OF JOHN DEERE PRODUCTS AS A PRIVATE CITIZEN, AND THAT HIS TARIFF POLICY WOULD MEAN “OUR COUNTRY IS GOING TO MAKE A LOT OF MONEY” ON JOHN DEERE PRODUCTS IF THEY’RE MANUFACTURED IN MEXICO.

HOWEVER, ECONOMISTS, BUSINESS LEADERS, AND POLITICAL OPPONENTS HAVE RAISED CONCERNS ABOUT THE POTENTIAL ECONOMIC IMPACT OF TRUMP’S TARIFF PLANS, ARGUING THEY COULD HARM U.S. HOUSEHOLDS AND BUSINESSES.

AMERICA’S AGRICULTURAL SECTOR IS CURRENTLY FACING MULTIPLE CHALLENGES, INCLUDING POTENTIAL TARIFFS ON EQUIPMENT MANUFACTURERS, LABOR SHORTAGES, AND FARMLAND CONSOLIDATION.

STRAIGHT ARROW NEWS REPORTED EARLIER THIS MONTH – THAT SOME AGRICULTURAL ECONOMISTS WARN THE FARM ECONOMY IS COLLAPSING. IN AUGUST, PURDUE UNIVERSITY’S FARMER SENTIMENT INDEX HIT AN EIGHT-YEAR LOW, INDICATING A NOTABLY BLEAK MOOD AMONG FARMERS.

ACCORDING TO A RECENT UNIVERSITY OF MISSOURI SURVEY, MORE THAN HALF OF AGRICULTURAL ECONOMISTS BELIEVE THE FARM ECONOMY IS ALREADY IN A RECESSION.

THE FEDERAL RESERVE BANK OF MINNEAPOLIS REPORTS THAT LABOR SHORTAGES HAVE SIGNIFICANTLY WORSENED THE SITUATION FOR MANY IN AGRICULTURE OVER THE PAST FIVE YEARS.