US President Donald Trump announced on Tuesday a 10-percentage-point reduction in tariffs on a range of agricultural and industrial equipment, lowering duties from 25% to 15% until next year-end. Under the changes, tariffs on agricultural machinery such as combines, harvesters and other farm equipment will fall to 15% from the current 25%. The Republican administration said the reduction is intended to ease costs for producers while supporting investment in America's agricultural sector.
The proclamation also broadens the scope of industrial equipment eligible for the lower 15% tariff rate. Mobile industrial machinery, including bulldozers, forklifts and similar equipment imported from countries covered by US trade agreements, will now qualify for the reduced duty treatment.
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