Reported about 10 hours ago
Caterpillar and Deere are experiencing significant financial impacts due to U.S. tariffs, with both companies reporting challenges in passing these costs onto customers amidst soft demand and high interest rates. Despite efforts to adjust pricing, Caterpillar anticipates up to $1.5 billion in tariff-related expenses in 2025 and has observed a notable drop in operating profits, while Deere has cut its profit forecasts as agricultural equipment sales slump. The overarching economic uncertainty continues to hinder their ability to recover costs.
Source: YAHOO