Global News reported that Saskatchewan based farmer’s buying intentions have shifted in light of tariffs imposed by the US. Chad Doerksen, a fourth generation farmer who works in the Hanley area who was considering upgrading and adding to his fleet of equipment in the near future with a new sprayer, combine and tractor, said “You don’t want to buy high and sell low. Yes I’m looking to do some more purchasing but right now I’m just holding off to see how things evolve.”
At Moody’s Equipment in Saskatoon, current inventory is unaffected by tariffs but when it’s gone, all equipment will be priced much higher and the dealer isn’t planning to brunt any of the increased cost.
Moody’s GM, Kim Leland, said “The exchange has gotten so, the price has gotten so high that the margin has eroded, eroded, eroded so there is no margin so if we got charged as a dealer, CAD 50,000 more for the combine, we have to pass that on because there is no buffer anymore.” Click here to read more.
- Steel Tariffs Make Agriculture Equipment Unaffordable For Some Sask. Farmers (Global News)
- Canadian Farmers Collateral Damage in China-U.S. Trade War (Financial Post)
- Trade War Casualties? Across the Line (Manitoba Co-operator)
- Agriculture Industry May Need Short Term Support as Trade War Rages On: Farm Group (iPolitics)