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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.

Recharge Wrap-up: Ohio State wins EcoCar 3 Year One, Renault video praises environmental benefits of EVs

A new video from Renault touts the benefits of electric vehicles. The video covers how EVs can help improve the air we breathe and mitigate climate change. It looks into the future at how the air of various metropolitan areas would improve with the adoption of electric cars. It focuses on how EVs help reduce not just CO2 emissions that put the climate in jeopardy, but gases and particulate matter that directly affect the human health. A study in Rome shows that if 10 to 20 percent of the vehicles were electric, particulate pollutants that cause respiratory and heart diseases would decrease by 30 percent, with nitrogen dioxide decreasing 45 percent. "The solution already exists," the video says, "and it is quite accessible for most of us." See the video above, and read more in the press release below. Ohio State University has won Year One of EcoCar 3. Winning the Year One trophy in the competition to create eco-friendly technology and incorporate it into a Chevrolet Camaro, the team defends its title from EcoCar 2 and wins $10,000 in prize money. "This year really lays the foundation vehicle development, which is critical step in the process for future success," says Ohio State University Engineering Manager M.J. Yatsko. "We have already begun vehicle dynamic analysis for next year and are excited to share some of our innovative features we plan to integrate into our vehicle." Teams receive their Camaros this fall, and will use the next years to install, test, and refine their technologies. Read more from the US Department of Energy. Advanced Microgrid Solutions will use up to 500 megawatt-hours of Tesla batteries for grid-based energy storage. It will install the Tesla Powerpack systems for storage in commercial and industrial facilities to help balance the grid load. It offers greater reliability for the grid, and cost saving for customers. "Tesla's focus on performance and design makes them the stand out technology choice for our projects," Says Advanced Microgrid Solutions CEO Susan Kennedy. "AMS' projects require intelligent, powerful and scalable energy storage solutions. Tesla's technology gives us the edge we are looking for." Read more in the press release from AMS. The National Electric Drag Racing Association has announced the Inaugural 2015 NEDRA Points Championship Series. It borrows rules from NHRA and IHRA, and seeks to put vehicle consistency and driver skill at the forefront.

Tesla working to eliminate side mirrors

Of all the concept car technologies, one of our favorites has been the deletion of side-view mirrors in favor of video cameras. Besides improving the look of the car, it'd lower drag and improve fuel economy. However, cost, available technology, and most importantly, the government, stand in the way of this tech making it onto a production model.
It's that last facet that Tesla is seeking to change. As Automotive News explains, when the Model X debuted in concept form, it was without wing mirrors. But when the production car was revealed, it had the conventional mirrors, largely because the camera'd car violated the National Highway Traffic Safety Administration's Federal Motor Vehicle Safety code (Standard 111, to be precise).
Now comes word that Tesla has actively been lobbying the NHTSA to do away with the standard. It's got breathing room at the moment. We reported a few months ago that the federal mandate regarding backup cameras had been pushed back to 2015. That gives Tesla plenty of time to work the safety administration over regarding the mirror replacement, getting the new tech approved in the next mandate.