John Deere says tech, not just regulations, is key to lowering farm costsJ

John Deere’s high finance chief has gently pushed again on President Trump’s declare that laws alone are driving up tractor costs. He stated the true path to reducing prices for American farmers lies in cutting-edge expertise — from AI weed detection to digitized acres — that may save growers cash lengthy earlier than the principles change.

“There are many alternatives to proceed to help our farm clients and make them extra worthwhile and help them in some ways, whether or not that is by expertise that may assist them save on their inputs or enhance their yields, but in addition by a number of the laws that they face,” CFO Josh Jepsen stated in an unique interview on “The Claman Countdown” Monday.

“The power to assist farmers do extra with much less is vital.”

His feedback got here shortly after President Donald Trump held a press convention making the announcement a $12 billion agricultural aid package to help farmers. The reduction bundle will present as much as $11 billion for the U.S. Division of Agriculture’s (USDA) new Farmer Bridge Help Program, which is designed to supply one-time funds to row crop farmers, whereas the remaining $1 billion will go to farmers whose crops don’t qualify for this system.

Democrats are railing towards Trump’s $20 billion reduction plan, citing America’s farm disaster

Individuals discuss whereas standing subsequent to tractors on the John Deere exhibit on the NAMPO agricultural competition on Might 15, 2025. (Getty Pictures)

See also  State Farm to hike Illinois home insurance rates by 27%

Additional particulars might be launched because the USDA continues to guage market situations, the White Home stated.

“I feel it is actually vital that we additionally give the tractor firms, John Deere and all the businesses that make the tools, that we take away plenty of the environmental restrictions that they’ve on machines,” President Trump instructed the press throughout a roundtable.

A White Home spokesperson responded to Fox Information Digital’s request for remark, saying: “Farmers have suffered for years below Joe Biden, who has widened the USA commerce deficit to greater than $1.2 trillion, raised enter prices, pushed agricultural DEI insurance policies and extra. In distinction, President Trump helps our agriculture sector by hanging new commerce offers to open new export markets for our farmers and strengthening the agricultural security web for the primary time in a decade. The President’s announcement displays the dedication of the president to assist our farmers, who will obtain the help they should bridge the hole between Biden’s failures and the president’s profitable insurance policies taking impact,” stated spokesperson Anna Kelly.

“As we have had extra emissions, there’s extra elements, there’s extra software program, there’s extra items of {hardware} that should be built-in as we cut back emissions,” Jepsen stated, “and that may be a part, I feel, because it pertains to the potential commentary.”

The CFO additionally highlighted the corporate’s ‘See & Spray’ expertise, which may save farmers as much as $15 per hectare by decreasing herbicide use by as a lot as 60%, focusing on weeds moderately than wholesome crops.

“I feel these sorts of issues are vital to persevering with to assist them implement these applied sciences that may cut back prices or enhance their revenues. And extra importantly, we’re additionally discovering methods to not solely do this on model new tools, however to retrofit that, to undertake that on present machines,” Jepsen explains, “which permits them to get into these applied sciences at a decrease value and ship the outcomes… which are actually, actually vital at a time like this when on-farm margins are extra below stress.”

Jepsen beforehand instructed FOX Enterprise’ Liz Claman that extra U.S. farmers had been renting — moderately than shopping for — tools in response to the Trump administration’s tariffs, however he identified that there’s extra “optimism” now as offers are being struck.

GET FOX BUSINESS ON THE GO BY CLICKING HERE

“The commerce agreements and buying commitments are constructive and incrementally constructive,” he stated, “when it comes to what’s taking place from a grain demand perspective, particularly on the soybean facet.”

He additionally positioned an emphasis on offering monetary options for purchasers, stating, “How do we’ve got all of the monetary options accessible to fulfill what our clients want? … So we’re making an attempt to cowl all these bases to care for what our clients need and the way they need to get into that tools.”

READ MORE FROM FOX BUSINESS

Diana Stancy of Fox Information contributed to this report.