Though China announced tariffs on U.S.-made farm equipment, manufacturers Deere, CNH Industrial and Agco face a bigger threat from a North American trade war. The companies’ sales, supply chains and manufacturing sites are enmeshed across the U.

According to President Sheinbaum, Mexico has cut a deal with the U.S. to delay the tariffs. Under the deal, she said Mexico is sending another 10,000 members of its national guard to the southern border to combat drug traffickers, while the U.S. has agreed to do more to prevent the trafficking of high-powered weapons to Mexico.

Canada’s prime minister and Mexico’s president have ordered retaliatory tariffs against Americans, following through with their threats after U.S.