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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.

The Ford that won't let you speed

The new Ford S-Max introduces a technology called Intelligent Speed Limiter, a cruise control setting that can read speed limit signs and automatically keep the car at the maximum posted speed even when that speed changes. The driver activates it by pressing a button on the steering wheel, the S-Max does the rest, and the minivan will inform the driver if it exceeds the limit for some reason, for instance, when going downhill. Slowing down, like when crossing from a 40 mile-per-hour zone to a 30-mph zone, is handled by fuel flow, not by the brakes - the car simply cuts engine power. It works anywhere from 20 mph to 120 mph, yet as with every other cruise control it's totally driver controlled; pressing the accelerator will override the system at any time. The aim is to help drivers avoid tickets, not take over the car. You can only get it on the UK S-Max for now. There's a video above that explains it and press release below with more information. Could this spell the end for speeding tickets? March 23, 2015 -- Breaking the speed limit is not something we always do on purpose. All the same, it can be costly in terms of fines, and driving bans, as well as playing a significant role in many road accidents. In the U.K. alone, in 2013, more than 15,000 drivers received fines of GBP100 or more for speeding. We are now launching Intelligent Speed Limiter, a technology that could help prevent drivers from unintentionally exceeding speed limits. The system monitors road signs with a camera mounted on the windscreen, and slows the vehicle as required. As the speed limit rises, the system allows the driver to accelerate up to the set speed – providing it does not exceed the new limit. "Drivers are not always conscious of speeding and sometimes only becoming aware they were going too fast when they receive a fine in the mail or are pulled over by law enforcement," said Stefan Kappes, active safety supervisor, Ford of Europe. "Intelligent Speed Limiter can remove one of the stresses of driving, helping ensure customers remain within the legal speed limit." Further new technologies available for the new S-MAX include the Pedestrian Detection system that will reduce the severity of some collisions involving vehicles and pedestrians, or help drivers avoid some impacts altogether. The versatile people-mover also is equipped to help out at junctions where it is difficult to see.

Driving the C8 Corvette, and previewing GM's electric future | Autoblog Podcast #617

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by West Coast Editor James Riswick and Road Test Editor Zac Palmer. First they dive right in to the experience of driving the 2020 Chevrolet Corvette, followed by their review of the Mercedes-Benz GLE 350. Then they talk about the week's news, beginning with the whole slew of electric vehicles General Motors surprised us with at its EV Day. Next, they discuss the possibility of Porsche building a hybrid 911, as well as news about Ford's electric Transit van making its way to the U.S.. Last, but not least, they take to the mailbag to help a listener pick his next car in the "Spend My Money" segment. Autoblog Podcast #617 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Driving the 2020 Chevrolet Corvette Stingray Driving the 2020 Mercedes-Benz GLE 350 GM EV Day: Cadillac Celestiq and Lyriq, GMC Hummers and more A hybrid Porsche 911? Ford Transit electric commercial vans coming to U.S. Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: