By Bob Tita

President Trump lowered the tariffs on imported farm equipment to 15% from 25% through the end of 2027, citing the role of tractors and crop harvesters in providing food for the country.

Trump also added residential heating and air-conditioning components and material-handling equipment to the list of products now eligible for the lower 15% tariff rate.

When the administration imposed a 25% duty on the entire value of imported products made with steel and aluminum earlier this year, it also created the discounted rate for imported factory machinery viewed as essential for expanding U.S. manufacturing. Industry groups have been pushing the administration to expand the 15% list.

Farm machinery manufacturers Deere, Agco and CNH Industrial are trading solidly higher, along with heating and air-conditioning equipment makers Lennox International and Carrier.

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(END) Dow Jones Newswires

June 02, 2026 11:56 ET (15:56 GMT)

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