(Radio Iowa) – Deere and Company’s worldwide sales fell nine percent during the last three months. Josh Beal, director of Investor Relations for Deere, says an evolving global trade environment and ever-changing interest rate expectations are causing customers to be cautious about big-ticket purchases. Deere C-E-O John May says the company is able to manage its inventory to help production match retail demand.

Nearly two-thousand Deere workers at Iowa plants have been laid of since June of 2024 and the company has cut its North American inventory of large tractors by 45 percent and its combine inventory is down 25 percent.

Deere executives say the company paid 200 MILLION dollars in tariffs over the past three months and expects to pay 600 MILLION during its current fiscal year, which ends October 31st.