U.S. to Lower Tariffs on Farm and Construction Equipment

[Stay on top of transportation news: Get TTNews in your inbox. ] The White House said it will reduce tariffs on farm and construction equipment such as harvesters and forklifts, in an effort to boost investment in the industrial economy through next year. Under a proclamation issued late June 1, those import taxes would drop to 15% from 25%. Foreign companies could qualify for a lower 10% duty rate if capital equipment contains at least 85% U.