Yesterday, the White House announced a trade deal between the U.S. and the European Union. Under the terms of the deal, most EU products imported to the U.S. will be subject to a 15% tariff. Â That will significantly impact the farm equipment market for dealers with inventory originating in EU countries.
A White House fact sheet released yesterday provides the broad structure of the agreement, but the finer details have yet to be released.
However, the European Union released a summary of the agreement giving greater detail about special treatment for strategic products, essentially exempting certain products from the tariffs. The product list does not include farm equipment; however, the document states that both parties have agreed to keep working to expand the list.
NAEDA will be advocating for farm equipment to be added to the list of tariff-exempt products. In order to do that, we need to provide policymakers with data that supports our rationale. The following short survey will provide key data points NAEDA can use to make the case that farm equipment should be exempt from EU tariffs. Please take the time to complete the survey and help our advocacy efforts on this front.
