Agco says new tariffs making it harder to boost U.S. market share, WSJ reports

For years Agco (AGCO) has been trying to increase its business in the U.S., where it has held the number three spot in essentially a three-company farm-equipment market. However, a wave of new tariffs means it will be harder to boost its standing there, The Wall Street Journal’s Mark Maurer and Bob Tita report. Agco doesn’t have enough U.S. sales to justify moving more production out of Europe, where it has most of its production and sales, CFO Damon Audia noted. Plus the likely need to raise prices to offset tariff costs could further depress sluggish demand for farm equipment in the U.S., where the company is continuing to invest.