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Tractor Market Growth Faces Challenges Amidst Regional Disparities

The latest market data report from Constellation Data Solutions shows tractor dealers saw revenue down 23% year-over-year in December. This data is based on “same store” results of dealers who have submitted data each month for 3 years in a row. The report is based on 246 dealers, who during the month sold 105,000 new whole goods units and did $2 billion in total sales.

U.S. tractor dealers reported December revenue increased by 11% from November. Canadian dealers, reported a 15% increase in December revenue compared to November.

In the U.S., the South and Midwest experienced moderate growth in the early months but ended the year with double-digit declines in November and December. Conversely, the Northeast showed mixed results, with December revenue down 14% compared to the prior year.

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Canada reaches tariff deal with China on canola, electric vehicles

Video: Canada reaches tariff deal with China on canola, electric vehicles

Canada has reached a deal with China to increase the limit of imports of Chinese electric vehicles (EVs) in exchange for Beijing dropping tariffs on agricultural products, such as canola, Prime Minister Mark Carney said on Friday.

The tariffs on canola are dropping to 15 per cent starting on March 1. In exchange for dropping duties on agricultural products, Carney is allowing 49,000 Chinese EVs to be exported to Canada.

Carney described it as a “preliminary but landmark” agreement to remove trade barriers and reduce tariffs, part of a broader strategic partnership with China.