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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.

Aftermarket carbon fiber rear spoiler for Tesla Model S is priced accordingly

Need a little something extra for your Tesla Model S? Robert Strohmeyer and EV Autosalon have you covered. The item is a thin rear spoiler, and it only costs $1,200. Strohmeyer sent AutoblogGreen an email about his new aftermarket parts company focusing on full EVs and plug-in hybrids. "Naturally," he wrote, "I started with the Tesla Model S" and the spoiler is the first product he's offering. EV Autosalon claims the very first of its EVA fiberglass spoilers was shipped last week and that more will go out next week. A few things to note. The spoiler – available in both fiberglass and carbon fiber - comes unpainted "so that [it] can be painted and installed by your local body shop of choice to match your Model S perfectly." The spoiler is meant to be attached to your Model S with 3M industrial strength body molding tape and will come with templates so that you can line up the spoiler with the edges of the trunk - you don't want this one to get put on crooked. The $1,200 price tag is for the matte or glossy carbon fiber spoilers. The fiberglass version will set you back $600, well below the cost of the official carbon fiber rear spoiler for the Tesla Roadster ($1,700). If you want an official rear spoiler for the Model S, you need to order it when you order the car (there is currently no option to buy one in the accessories section of company website), and Tesla will only put it on the $85,900 85-kWh Performance model. Tesla says the official spoiler will, "improve high speed stability" and will "reduce lift at the car's rear by 77% at highway speeds, with minimal range impact." Strohmeyer isn't making any performance claims about his aftermarket spoiler, but some members of the Tesla Motors Club like the look of it. Do you?

Toyota sells off Tesla shares, too

The incredible rise of Tesla's stock price has done little to now stop two major shareholders from ditching their stake in the American EV manufacturer. First, Daimler, parent company of Mercedes-Benz, ditched its four-percent stake, and less than a week later, Toyota is doing the same thing, selling off an undisclosed bit of its Tesla investment.
The move comes as Toyota winds down sales of the RAV4 EV, which gets its batteries and electric motor from Tesla at the company's Fremont, CA factory.
"We have a good relationship with Tesla, and will evaluate the feasibility of working together on future projects," Toyota spokesperson Kayo Doi told Bloomberg via email.