The U.S. and China have reached a tentative trade deal, which may be good news for agricultural equipment manufacturers.
Hubertus Mühlhäuser, the CNH Industrial CEO, expects market stability especially for the farming sector in the U.S.
CNH Industrial is one of the largest agricultural equipment manufacturers and a big part of their business is in North America.
Mühlhäuser says the company has felt the impact of the trade war between the two countries.
If the trade war had gone on any longer, Mühlhäuser thinks the company would have had to redirect some of those supply chains.
Now that there is a tentative deal, there can be more market stability and if U.S. farmers can sell more agricultural products to China, it’ll be good for business.
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