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The Economic Times

Economy / The Economic Times

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Trump temporarily slashes tariffs on farm, industrial equipment from 25% to 15%

America's President Donald Trump has reduced tariffs on farm and industrial equipment. Duties on machinery like harvesters and bulldozers will now be 15 percent. This aims to lower costs for producers and boost investment. Foreign manufacturers can get a 10 percent rate if their equipment uses 85 percent US steel or aluminum. These measures are in effect until 2027.

2 Jun 2026 6:54 am