If China enacts their announced tariffs on U.S. ag products, farm equipment dealers and manufacturers will feel it just as acutely. Already jittery about making capital investments, putting the proposed tariffs into effect, farmers could easily decide to put off replacing that tractor for another year.

In a recent report, London-based data gathering and analysis firm, IHS Markit, sums up the situation this way: “The announced tariffs on agricultural products are not welcome news for…