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Stocks down as automakers, Boeing lead China's hit list in trade spat

Shares in U.S. exporters of everything from planes to tractors fell on Wednesday after China retaliated against the Trump administration's tariff plans by proposing duties on key U.S. imports including soybeans, beef and chemicals. U.S. automakers' products are prominent on China's list of tariff targets, yet shares of automakers ended higher on Wednesday as Wall Street stocks changed course in the afternoon when investors' trade fears subsided. Tesla shares closed 7.3 percent higher at $286.94, Ford shares gained 1.6 percent to close at $11.33, and GM shares were up 3 percent at $38.03. Aircraft maker Boeing closed down 1 percent, weighing the most on the Dow Jones Industrial Average as documents from China's Ministry of Commerce and the U.S. manufacturer showed the move would affect some older Boeing narrowbody models. It was not immediately clear how much the tariffs would impact its newer aircraft. Boeing said it was assessing the situation while analysts from JP Morgan said the proposals from China looked to have been calibrated carefully to avoid a major impact on the planemaker. Fellow Dow component 3M lost as much as 2.4 percent. And farming equipment maker Deere lost nearly $10 per share at its lowest. The company urged the two countries to work toward a resolution to "limit uncertainty for farmers and avoid meaningful disruptions to agricultural trade." The speed with which the trade spat between Washington and Beijing is ratcheting up — the Chinese government took less than 11 hours to respond with its own measures — led to a sharp selloff in global stock markets and commodities. China was hitting back against U.S. President Donald Trump's plans to impose tariffs on $50 billion in Chinese goods with similar tariffs on U.S. goods even as Trump said the country is "not in a trade war with China." "Everybody knew they were going to retaliate. The question was how strong of a retaliation. Today's move clearly shows that they mean business," said Adam Sarhan, chief executive of 50 Park Investments in New York. China levied 25 percent additional tariffs on U.S. goods, but unlike Washington's list that covers many obscure industrial items, Beijing's covers 106 key U.S. imports including soybeans, planes, cars, whiskey and chemicals. Trump denied that the tit-for-tat moves amounted to a trade war between the world's two economic superpowers.

Ford exec reveals new F-150 Raptor packs 450 horsepower

Between the new GT supercar, Shelby GT350R muscle car and F-150 Raptor off-roader, Ford had quite the array of performance machinery on display at the Detroit Auto Show earlier this month. One thing it didn't reveal about any of the three, however, is how much power they'd pack, but a senior executive at the Blue Oval automaker has reportedly let the cat out of the bag when it comes to the Raptor. During a televised interview during the Rolex 24 at Daytona this past weekend, Ford's product development chief Raj Nair is said to have revealed that the new F-150 Raptor will offer 450 horsepower. That's pretty impressive from a 3.5-liter turbocharged V6, and would put the new Raptor out ahead of the 411 hp produced by the 6.2-liter naturally aspirated V8 in the previous SVT Raptor. That doesn't give us the whole picture, though, because in a vehicle this big especially, torque will play a huge factor. The outgoing Raptor offered 424 pound-feet of twist, and the existing 3.5-liter EcoBoost engine is already producing 420 lb-ft – so it seems fairly safe to assume the new Raptor will eclipse those figures as well, but we'll have to wait for official word to find out for sure. Related Video:

Evo grabs Ford's Fiesta R5 rally car by the scruff

Evo and host Henry Catchpole were thinking of excuses reasons to borrow the bonkers Ford Fiesta R5 rally car for a day or two, when it struck them: the car is street legal. With access to the R5, some of the world's most beautiful driving roads in the English Lake Country nearby, and a handy video crewing hanging around, the plan seemed to write itself.
Based on the resulting video, it was a good plan. Without spoiling the video for you - something we can't really do in text as the best part is listening to the rally car run - Catchpole finds the Fiesta to be sublimely quick and massively satisfying. Even taking the car for a spin on a pseudo rally stage, after leaving the English countryside, does nothing but add to his assessment of the beastly little Ford. Scroll on below to see for yourself, and enjoy the ride.