China Puts 10% Tariff on U.S. Farm Equipment

Reuters reports that on Feb. 4, China announced a 10% tariff on imports of U.S. farm equipment. The new tariff will start on Feb. 10, 2025.

Reuters noted that it could impact companies such as Deere and AGCO, as well as Caterpillar.

According to the report, "Beijing also slapped tariffs on U.S. products such as coal, oil and some autos in a rapid response to the new duties on Chinese goods imposed by U.S. President Donald Trump, escalating trade tensions between the world's two biggest economies."

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