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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.

2016 Ford Explorer configurator reveals $30,700* base price, Platinum starts at $52,600*

The a la carte menu for the 2016 Ford Explorer is ready for your... umm... exploring. The first page of the refreshed model's configurator reveals the lineup, including the new Platinum trim, and price increases for three of the carryover models. The base Explorer doesn't change by one red cent: it can still be had for $30,700. The XLT needs $33,400 (a $400 price bump), the Limited goes for $41,300 (a not insignificant $2,900 price increase), and the Sport requires $43,300 (a $200 increase). That new Platinum model goes where no Explorer MSRP has gone before, beginning at $52,600 (*all prices are subject to an $895 destination charge). However, since Ford has put almost everything in it, you can't jack the price up too much further unless you lose your mind in the accessories catalog. You can quickly head that way lower down the order, though. The Limited's price jump appears to be due to the voice-activated navigation system, which comes standard; it was formerly part of a $2,600 option package. The Limited goes up by just $995 when specced with the new 2.3-liter EcoBoost, which raises the power over the 2.0-liter EcoBoost it replaces to 270 horsepower and 300 pound-feet of torque, but doesn't incur any fuel economy penalty. All-wheel drive tacks on another $2,000, safety features like active park assist and lane departure warning come as part of $3,000 Equipment Group A, and you'll still have another three pages of options to get through. On the other hand, if you just want to get your family bundle into an Explorer without spending a bundle, the base model doesn't offer any packages and only has one option over $200. Let the research begin.

Chevy Camaro is a good sport, wishes Ford Mustang Happy 50th

It was 1966 when Chevrolet launched its challenger to the wildly successful Ford Mustang, the Camaro. While the competition between the two brands was already healthy, the arrival of the Camaro set off one of the most intense, model-to-model rivalries in the industry.
That competitive spirit hasn't stopped Chevy and the Camaro from wishing Ford's iconic muscle car a Happy 50th Birthday as the Ford's April 17 anniversary rolls around. These two cars have been linked over the years, and while the rivalry took a break for a few years in the 2000s, today's competition between the Camaro and Mustang is as fierce as it's ever been.
You might recall that this friendliness when it comes to major milestones isn't too rare. Ford put on quite a display for General Motors' hundredth anniversary back in 2008. As the Camaro's fiftieth birthday approaches in 2016, we wouldn't be surprised to see the Mustang sending its best wishes to its Bowtie rival.