John Deere CFO responds to Trump’s declare on expensive farm gear, says tech is essential to cheaper farming

John Deere & Firm CFO and senior vice chairman Josh Jepsen discusses the corporate’s Investor Day, highlighting the way forward for farming with autonomous tractors and ‘See & Spray’ know-how on ‘The Claman Countdown.’

John Deere’s prime finance chief pushed again gently on President Trump’s declare that rules alone are driving up tractor costs, saying the true path to decreasing prices for America’s farmers lies in cutting-edge tech — from AI weed detection to digitized acres — that may save growers cash lengthy earlier than 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 stated in an unique interview on “The Claman Countdown” Monday.

“The ability to help farmers do more with less is critical.”

His feedback got here shortly after President Donald Trump held a press convention asserting a $12 billion farm support package deal to help farmers. The help package deal will present as much as $11 billion towards the U.S. Division of Agriculture’s (USDA) new Farmer Bridge Help Program, which is designed to offer single funds to row crop farmers, whereas the remaining $1 billion will go to farmers whose crops don’t qualify for this system.

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Individuals discuss whereas standing subsequent to tractors on the John Deere exhibition on the NAMPO agricultural pageant on Might 15, 2025. (Getty Photographs)

Additional particulars can be hashed out because the USDA continues to guage market situations, in accordance with the White Home. 

“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 advised the press at a roundtable occasion.

“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 stated, “and that would be a component, I think, as it relates to the potential commentary.”

The CFO additionally highlighted the corporate’s “See & Spray” know-how, which might save farmers as much as $15 per acre by chopping herbicide use by as a lot as 60%, concentrating on weeds quite than wholesome crops.

U.S. Agriculture Secretary Brooke Rollins discusses the Trump administration’s push for affordability following his announcement of $12B in support for farmers on ‘Kudlow.’ 

“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 defined, “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 beforehand advised FOX Enterprise’ Liz Claman that extra U.S. farmers had been renting – versus shopping for – tools in response to Trump administration tariffs, however pointed on the market’s extra “optimism” now as offers are struck.

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Deere & Firm SVP and CFO Josh Jepsen discusses the influence of tariffs on the enterprise and the way farms are faring on ‘The Claman Countdown.’

“The trade agreements and purchase commitments are positive and incrementally positive,” he stated, “in terms of what’s happening from a demand of grains perspective, particularly on the soybean side.”

He additionally put an emphasis on offering monetary options for patrons, 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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