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FTC and USDA Launch Joint Inquiry into Agricultural Equipment Market

The Federal Trade Commission and the U.S. Department of Agriculture launched a joint public inquiry regarding issues affecting agricultural equipment manufacturing and distribution markets, including potential anticompetitive conduct, the FTC announced. "The joint request for information is a part of the FTC's ongoing work to preserve competition in the agricultural sector. This work includes the FTC's recent settlement, joined by twelve states, enjoining Corteva Inc.'s alleged anticompetitive conduct in pesticides markets, as well as the FTC's settlement, joined by five states, of an antitrust action challenging repair restrictions imposed by farm equipment manufacturer Deere & Company. The settlement with Deere ensures that farmers can enjoy the right to repair their own John Deere tractors and farm equipment. The joint RFI seeks to address the growing number of complaints received by USDA that farmers across the country face other barriers to acquiring agricultural equipment and the services required to keep equipment operating," the FTC stated. Farm equipment makers include Deere (DE), Caterpillar (CAT), CNH Industrial (CNH) and Agco (AGCO).