| FOR IMMEDIATE RELEASE August 25, 2025 Contact: [email protected] ICYMI: Tariffs Force John Deere Layoffs in Midwest Iconic American company John Deere is laying off 238 workers across its factories in Waterloo, Iowa, and Moline and East Moline, Illinois as tariffs drive up costs and cut into sales. The company reported a 26% drop in net income and 9% decline in sales, citing lower commodity prices and higher tariff expenses so far this year. “Tariff costs in the quarter were approximately $200 million, which brings us to roughly $300 million in tariff expense year to date,” said Josh Beal, Director of Investor Relations at John Deere. John Deere now expects its tariff costs to reach $600 million in 2025, up from a prior forecast of $500 million. Since April, the Trump Administration has imposed across-the-board tariffs of 10%–50% on nearly all imports, with higher rates for dozens of countries and industries. The average tariff rate now tops 18.6%, the highest since 1933. ### Tariffs Cost US is a campaign dedicated to providing the public with reliable, comprehensive information about global trade and tariffs, and their impact on both businesses and consumers. |
