Trump on John Deere, Case and others: tractor prices must be cut

US President Donald Trump has called on major agricultural machinery manufacturers to reduce the prices of tractors and other farm machinery. In addition, the White House is promising to establish a "National Agriculture Day" as Trump intensively seeks support for his policies in rural America. To this end, Mr Trump has declared 24 March "National Agriculture Day".

In his speech last Friday, he called on agricultural machinery manufacturers such as „John Deere“, „CNH“ or „Caterpillar“ to lower prices for farmers. In his statement, Mr Trump promised: "We will end an era of over-regulation that has hampered productivity, increased equipment costs and disadvantaged American farmers and ranchers."

Farmers will see reductions in inheritance taxes and capital gains taxes to ease the burden on farmers. For example, inheritance tax will be effectively abolished permanently. In addition, many farmers have taken advantage of the possibility to write off immediately the costs of machinery purchases and land improvements.

As another achievement of his government, Trump highlighted the EPA's re-authorisation of the blending of up to 15% bioethanol into petrol (E15). In addition, the EPA directive gives farmers the "right to repair" their machines.

In addition, the Trump administration, by its own admission, has allocated more than €40 billion for the development of biofuels. The Trump administration has spent $40 billion in direct aid to farmers and ranchers to help them recover from years of unfair foreign trade practices and the disastrous policies of the Biden administration.