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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 rolls out diesel Focus ST at Goodwood [w/poll]

If you're in the market for a hot hatch, there are some excellent choices at your disposal - especially if you live in Europe. But if you want a diesel, well, your choices become rather more limited. Volkswagen tends to that niche market with the Golf GTD (essentially an oil-burning version of the GTI available Stateside), but that's about the extent of it. The pleas of those looking for more diesel-burning hot hatch choices haven't fallen on deaf ears at Ford, with the Blue Oval not only rolling out a facelifted gas-powered Focus ST at the Goodwood Festival of Speed this weekend, but also a new diesel version as well.
The diesel Focus ST (which we hope and pray isn't marketed as the STD) packs a 2.0-liter turbodiesel four producing 182 horsepower and 295 pound-feet of torque to propel the oil-burning hot hatch to 62 in 8.1 seconds en route to a top speed of 135 miles per hour. With less power and only slightly more torque, that makes the diesel Focus ST considerably slower than the gasoline one, which packs 252 hp and 270 lb-ft, runs to 62 in 6.5 seconds and tops out at 154 mph, but (in a testament to how far particulate filters have come) the diesel model cuts carbon emissions by nearly a third compared to the petrol version and returns about 50-percent better fuel economy, which makes that much more of a difference in markets where diesel is already priced better than gasoline at the pump.
For buyers who wouldn't consider anything other than a diesel, it also represents 23-percent more power than the previous top-level diesel Focus. The VW Golf GTD, for reference, offers up 181 hp (just 1 horse less), 280 lb-ft (15 fewer torques) but is somehow estimated to reach 60 in a considerably fleeter 7.4 seconds.

China takes lead as GM's No. 1 market

It's happened. General Motors' biggest vehicle market - at least in terms of new model sales - is China. According to TheDetroitBureau.com, GM and its various Chinese joint venture operations enjoyed a 10.6-percent sales increase in the first half of 2013, selling almost 1.6 million units in the market. That puts GM China about 200,000 units ahead of its US sales totals over the same period - this, despite indicators that the communist nation's economy is losing momentum.
TDB notes that like GM, rival Ford has also enjoyed a robust 2013 in China thus far, with its sales up a whopping 47 percent to 407,721 units sold - 75,254 of them in June alone. Between the two US automakers, passenger car sales for the first half of 2013 are up around 14 percent, well ahead of the rest of the industry's 10-percent growth estimates for the market. Some of the sales growth may come as a result of an overall anti-Japan sentiment in China, though the American brands have long outsold their Japanese counterparts in the country.
By The General's own predictions, China will only continue to grow in sales importance. The company has designs on selling over five million cars a year in the market before the end of the decade, a total that figures to dramatically widen the gap versus its US totals - even if America's auto market makes a full recovery to the the salad days of over 17-million units a year.