1323 ET - Deere is taking steps to limit the effects of tariffs through exemptions, optimizing its global supply chain and potentially raising prices, CFO Joshua Jepsen says on a call with analysts. In recent weeks, the company has certified many of its eligible products for USMCA and ag-use-only exemptions from Mexico and Canada. "These certifications were not required historically, as our products were generally duty-free," Jepsen says." Deere has also been actively moving component sourcing. "We don't see much opportunity for price mitigation to impact fiscal 2025, given our order books for most product lines are nearly full for the remainder of the year," Jepsen says. "That being said, we're contemplating tariff impacts on our cost structure as we look to Model Year 2026 pricing." (connor.hart@wsj.com)
(END) Dow Jones Newswires
May 15, 2025 13:23 ET (17:23 GMT)
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