John Deere’s top finance chief pushed back gently on President Trump’s claim that regulations alone are driving up tractor prices, saying the true path to lowering costs for America’s farmers lies in cutting-edge tech — from AI weed detection to digitized acres — that can save growers money long before the rule books change.
“There’s plenty of opportunity to continue to support our farmer customers and to make them more profitable and support them in many ways, whether that’s through technology that can help them save on their inputs or improve their yields, as well as some of the regulations that they face,” CFO Josh Jepsen said in an exclusive interview on “The Claman Countdown” Monday.
“The ability to help farmers do more with less is critical.”
His comments came shortly after President Donald Trump held a press conference announcing a $12 billion farm aid package to support farmers. The aid package will provide up to $11 billion toward the U.S. Department of Agriculture’s (USDA) new Farmer Bridge Assistance Program, which is designed to provide single payments to row crop farmers, while the remaining $1 billion will go to farmers whose crops do not qualify for the program.
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Further details will be hashed out as the USDA continues to evaluate market conditions, according to the White House.
“I think it’s very important we’re going to also give the tractor companies, John Deere and all of the companies that make the equipment, we’re going to take off a lot of the environmental restrictions that they have on machinery,” President Trump told the press at a roundtable event.
The Trump administration did not respond to Fox News Digital’s request for comment.
“As we’ve had more emissions, there is more componentry, there’s more software, there are more pieces of hardware that need to be incorporated as we reduce emissions,” Jepsen said, “and that would be a component, I think, as it relates to the potential commentary.”
The CFO also highlighted the company’s “See & Spray” technology, which can save farmers up to $15 per acre by cutting herbicide use by as much as 60%, targeting weeds rather than healthy crops.
“I think those types of things are critical to continue to help them take on those technologies that can take down costs or improve their revenue. And importantly, we’re also finding ways to do that not only on brand-new equipment, but to retrofit that, to take that onto existing machines,” Jepsen explained, “which allows them to get into those technologies at a lower cost and to deliver the outcomes … that are really, really important in a time like this where there is more pressure on margins on the farm.”
Jepsen previously told FOX Business’ Liz Claman that more U.S. farmers were renting – versus buying – equipment in reaction to Trump administration tariffs, but pointed out there’s more “optimism” now as deals are struck.
“The trade agreements and purchase commitments are positive and incrementally positive,” he said, “in terms of what’s happening from a demand of grains perspective, particularly on the soybean side.”
He also put an emphasis on providing financial solutions for customers, positing, “How do we have all the financial solutions available to meet what our customers need? … So we try to cover all those bases to take care of what our customers want and how they want to get into that equipment.”
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Fox News’ Diana Stancy contributed to this report.
