AGCO Corp., one of the world’s biggest farm machinery makers, will keep some finished equipment temporarily outside of the US as the company assesses the impacts from President Donald Trump’s sweeping tariffs.
The owner of brands including Fendt, Massey Ferguson and Valtra won’t bring machines that were produced abroad into the US, although shipments of parts into the country will not be impacted, AGCO said in a Tuesday statement.
“The US and reciprocal tariff landscape remains very fluid,” AGCO said in one of the first statements from a company on how Trump’s tariffs could impact agriculture. “AGCO continues to ship finished products from the US to other countries where there are currently no applicable tariffs.”
Tariffs are the latest risk to demand for farm-machinery makers. Many of the world’s growers were already buying fewer machines to plant, harvest and treat crops as prices for grain and oilseeds have been under pressure.
AGCO in February said it expected 2025 sales to be below those of 2024 — even before any impact from tariffs. The company said it will give another update during its next earnings report in early May.
