White House trims tariffs on agricultural equipment

 United States President Donald Trump signed a proclamation reducing tariffs on some agricultural equipment, like combines and harvesters, from 25% to 15%.

The proclamation also expands the category of industrial equipment subject to a 15% tariff to include "mobile industrial equipment, like bulldozers and forklifts, when imported from trade deal countries that are entitled to such treatment." Additionally, it allows foreign companies to qualify for a 10% duty rate if their "capital equipment includes at least 85% US melted and poured or smelted and cast steel or aluminum by weight."

These tariff reductions will last until December 31, 2027, with the aim of spurring "near–term investments that will rebuild the Nation's industrial base," the White House said.

https://breakingthenews.net/Article/White-House-trims-tariffs-on-agricultural-equipment/66413418