"These tariffs target the vital parts and components used in equipment manufacturing throughout the U.S. They will also drive up the cost of manufacturing...," says the Assn. of Equipment Manufacturers President Dennis Slater.
The Trump Administration is using authorities provided to it under Section 301 of the Trade Expansions Act of 1974 to place tariffs on goods from China, which includes many different types of construction and agricultural equipment as well as parts.
The 25% tariffs, which U.S. President Donald Trump announced last month along with a 10% tariff on aluminum, could raise steel prices by 30% and may prompt the company to switch materials, says Samuel Allen, Deere & Co. Chairman and CEO.
Learn actionable sales strategies from the most influential “Dealership Minds” in the industry — of every color, size and experiences — during this one-of-a-kind event July 30-31 in Peoria, IL. You’ll discover leading dealer-to-dealer sales strategies during this 2-day networking and idea sharing event.
Yanmar was founded in 1912 and developed the world's first commercially viable small diesel engine in 1933. The diesel engine has continued as our core business ever since, our key tool in the rationalization and modernization of agriculture, fishing and industry.
Virginia Beach-based STIHL Inc., produces a full line of high-quality, handheld outdoor power equipment including blowers, trimmers, brushcutters, and multi-task tools, as well as the number one selling brand of chainsaws worldwide. STIHL Inc. manufactures over 260 model variations of handheld outdoor power equipment for sale in the U.S. and around the world.