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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.

Tesla Model S gets minor interior comfort upgrades

The saying goes that moss doesn't grow on a rolling stone, and if that's the case, then the Tesla Model S must be one of the cleanest rocks around. Tesla continually releases little improvements for its luxury sedan, like just a few days ago with the announcement of an over-the-air update to make the P85D (pictured above) even quicker. This time the electric car company has more tweaks coming to make the ride a bit more luxurious. According to an email from Tesla, the automaker is now offering plusher, executive rear seats for the Model S for a dose of extra comfort. The softer chairs also give taller occupants in the back a little more headroom by sitting passengers between 0.4 inches and 0.6 inches lower. To keep warm, the option comes with two-zone heating, and for additional storage there's a center console with a leather-covered armrest and cup holders. In small adjustment for cold-climate drivers, Tesla is adding a heated steering wheel to its Subzero Weather Package on the Model S. The optional bundle already includes useful goodies for the winter like heated rear seats, wiper blade defrosters and heated washer nozzles.

Recharge Wrap-up: more than 600K EVs worldwide; Musk sees demons in AI

More than 600,000 battery electric and plug-in hybrid cars have been sold worldwide. This number is up 20 percent in the last four months, and includes the top 10 countries for EVs. The number does not include most commercial vehicles, motorcycles, buses or EVs not legal for highway use. The US accounts for about 260,000 of those tallied, and is the largest adopter of EVs, while Sweden is the most aggressive. The largest growth occurred in Sweden, Germany, China and the UK. Read more at Hybrid Cars. EV drivers can now pay for charging at ChargePoint stations with Paypal. Drivers can link Paypal to their ChargePoint account, and can use their ChargePoint app or card at the station. The first time drivers use Paypal at a station that charges a fee, they will be charged a $25 deposit from which the fee will be deducted. Read more in the press release below. The first NTx Apps Challenge awarded cash to five app development projects, including Juxt and GridLock. Juxt is a mobile app that helps drivers find alternative fuel, parking spots and other points of interest along their routes. GridLock is a traffic light network that monitors traffic patterns and controls lights to optimize traffic flow. Winners get cash, continued mentorship and office spaces. Read more in the press release below. Renault says it could sell the Eolab at around the same price as its diesel-powered Clio. The Eolab, which debuted as a concept at this year's Paris Motor Show, is said to be capable of up to 235 mpg. While Renault has not announced plans to mass-produce the super-efficient Eolab, the company's chief competitive officer Thierry Bollore said that if it did, it would "not cost more than a Clio DCi 90hp," which starts at about $23,900. Read more at Automotive News Europe. An author at Teslarati has created his own system to get notifications whenever Tesla adds a new Supercharger to its network. Using a web scraping tool, Rob M. has set his @TeslaLiving Twitter account to tweet the details whenever Tesla updates its Supercharger page, or when Teslarati's Interactive Tesla Supercharger Map gets a new location added. Rob has also created notifications for whenever new versions of Tesla software are added. Read more at Teslarati. Tesla CEO Elon Musk considers artificial intelligence an "existential threat." In a symposium at MIT, Musk said, "With artificial intelligence, we are summoning the demon." It's a demon he fears we can't control.