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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.

2024 Dodge Charger, the Apple Car and the 5 worst car brands | Autoblog Podcast #822

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by News Editor Joel Stocksdale. They lead off with the 2024 Dodge Charger reveal, followed by various EV startup news including the reported death of the Apple Car; rumors of a tie-up between Fisker and Nissan; and when we'll finally see the Tesla Roadster. That's followed by rumors of sporty EVs from VW group possibly including an Audi TT and the five worst car brands according to Consumer Reports. Road Test Editor Zac Palmer pops in to discuss Formula 1 at Bahrain, and Migliore and Stocksdale wrap up the podcast with the cars they've been driving: the Toyota Prius, Kia EV9 and Infiniti QX50. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #822 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown News 2024 Dodge Charger Reveal Apple Car reportedly dead Fisker and Nissan rumors Tesla Roadster production target Electric VW group sports coupes Five worst car brands Formula 1 at Bahrain What we've been driving 2024 Toyota Prius 2024 Kia EV9 (Road trip to Chicago) 2024 Infiniti QX50 Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video:

Recharge Wrap-up: NextEV raises $500M, A123 execs beat fraud claims

Scientists at Cardiff University's Catalysis Institute have developed a new method to improve biodiesel yields. Using a new catalytic process, the team is able to use the glycerol left over from biodiesel production and make more methanol to produce more biodiesel. Using magnesium oxide and cerium oxide is simpler than other methods, requiring only one step at room temperature with normal atmospheric pressure. "We set out to establish ways in which the waste product glycerol could be used to form other useful compounds, but we were surprised when we found that feeding glycerol and water over such a simple catalyst gave such valuable products and interesting chemistry," says Professor Stuart Taylor. The system could increase biodiesel yields by as much as 10 percent. Read more at Gizmag, or from Cardiff University. A federal judge has dismissed a lawsuit claiming A123 Systems hid problems with Fisker from investors. The plaintiffs accused four A123 executives of failing to report Fisker's impending bankruptcy and issues with battery quality. US District Judge Laura Taylor Swain says there is not enough evidence showing that the defendants knew about problems with their batteries or about Fisker's financial difficulties. Read more at Reuters, or at Law360. Chinese startup NextEV is raising funds to build a Tesla-fighting electric car. The company, which plans to launch a supercar to match the acceleration of Tesla's Ludicrous Mode next year, has raised about half of its $1 billion goal thanks in part to investments from Sequoia Capital and Joy Capital. NextEV also plans to produce mass market electric vehicles at about half the price of a Model S. "Talking big is pointless," says NextEV cofounder William Li. "We develop the car purely from the angle of consumers. We most value what they would like the car to be. We want them to experience sheer pleasure of driving our car." Read more at Bloomberg. Featured Gallery 2012 Fisker Karma: First Drive View 23 Photos Related Gallery News Source: Gizmag, Cardiff University, Law360, Reuters, BloombergImage Credit: Copyright 2015 Drew Phillips / AOL Earnings/Financials Green Fisker Automakers Tesla Biodiesel Green Automakers Electric recharge wrapup