0822 ET - China today announced an additional 34% tax on all U.S. goods from April 10, and UBS thinks the overall impact on U.S. farmers from a trade war could be worse than it was in 2018's trade clash with China. The analysts say the current 10% soybean tariff is lower than last time, with the current situation remaining fluid, as the Trump administration is discussing potential support payments for farmers. But it still thinks the trade dynamics "are a headwind to the ag sector and to farm machinery companies, as farmers tend to prefer free trade, rather than rely on government payments," the analysts say. As for ag machinery stocks, the analysts say "companies are already facing a challenging market in which they are trying reduce inventory." (dean.seal@wsj.com)
(END) Dow Jones Newswires
April 04, 2025 08:23 ET (12:23 GMT)
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