Market Chatter: Deere Says It Is Working to Cut Farmers' Costs

MT Newswires Live12-10

Deere (DE) said it is working to "substantially" cut costs for US farmers after President Donald Trump urged tractor manufacturers to reduce prices because equipment has become too expensive, Bloomberg reported Tuesday.

Deere told Bloomberg in a statement that it remains focused on supporting customers "for the long haul" and said its newest machinery uses automation to lower labor and chemical expenses.

Trump's remarks came as the administration unveiled a $12 billion aid package for farmers affected by tariffs and low crop prices, the report said.

Deere did not immediately respond to MT Newswires' request for comment on the matter.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 465.13, Change: -1.22, Percent Change: -0.26

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