The White House reduces tariffs on agricultural equipment from 25% to 15%, effective until the end of 2027

```htmlGolden Ten Data reported on June 2 that the White House announced it will reduce tariffs on agricultural equipment such as combine harvesters and harvesters to lower costs for American farmers and manufacturers. According to a notice issued later on Monday, these tariffs will be reduced from 25% to 15%. This preferential policy will take effect on June 8 and remain in place until the end of 2027. Globally, aluminum buyers have been impacted by the closure of the Strait of Hormuz and turmoil in the Persian Gulf, a region accounting for nearly 10% of global supply. Since the outbreak of the Iran war, diesel prices have also been rising. Trump cited increasing costs as the reason for this move. The President's announcement stated: “Among other things, the Secretary of Commerce has informed me that recent developments have and will continue to affect domestic industries using agricultural equipment, industrial equipment and machinery, and other related products.”```