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FACTBOX-U.S. winners and losers from trade tit-for-tat

Wed, 04th Apr 2018 19:33

(Adds details on 3M and Deere)

April 4 (Reuters) - China on Wednesday hit back at PresidentDonald Trump's plan to impose tariffs on $50 billion in Chinesegoods by proposing additional tariffs of 25 percent on 106categories of U.S. imports including soybeans, autos, chemicalsand some types of aircraft.

The trade tensions brewing between the top two worldeconomies hit stock markets, with shares of industrial companieswith exposure to Chinese markets such as Boeing Co andDeere & Co among the hardest hit.

Following are some of the possible winners and losers amongU.S. companies and sectors.

CAR COMPANIES

* U.S. auto maker General Motors Co urged the twocountries to engage in constructive dialogue over trade. Thecompany's stock fell as much as 3 percent before reversingcourse to trade slightly higher.

* GM rival Ford Motor Co lost as much as 3 percentwhile electric carmaker Tesla Inc, which depends onChina for 17 percent of its revenue, dropped 2.5 percent. Sharesof Fiat Chrysler fell as much as 3.4 percent beforerecovering.

* Ford said it encouraged both governments to work togetherto resolve issues.

BOEING & INDUSTRIALS

* Aircraft maker Boeing Co was last down 2.5 percent,weighing the most on the Dow Jones Industrial Average asdocuments from China's Ministry of Commerce and the U.S.manufacturer showed the move would affect some older Boeingnarrowbody models. It was not immediately clear how much thetariffs would impact its newer aircraft.

Boeing said it was assessing the situation while analystsfrom JP Morgan said the proposals from China looked to have beencalibrated carefully to avoid a major impact on theplanemaker.

* Fellow Dow component 3M Co lost as much as 2.4percent. The S&P 500 industrial sector was the biggest drag onthe broader benchmark.

TECH MAJORS

* The S&P 500 technology sector, which has thebiggest revenue exposure to China among the benchmark's 11 majorsectors, dipped 0.5 percent.

* Worst hit in the sector were chip stocks Intel Corp, Nvidia Corp and Broadcom Ltd.China's position as an assembly hub for electronic devices makesit the biggest consumer of semiconductors.

SOYBEANS AND WHISKEY

* Jack Daniel's maker Brown-Forman Corp slippedabout 1 percent before recovering after whiskey was singled outas the only spirit on which China planned to impose moretariffs.

* U.S. meat processor Tyson Foods Inc, meat exporterHormel Foods Corp and Sanderson Farms Inc allrose on the prospect of a drop in prices of feedstock soybeanfollowing higher Chinese tariffs on U.S. exports.

* DowDuPont Inc said its agriculture unit could beaffected by the escalating conflict, warning of price declinesfor soybeans, and a negative impact on U.S. farmers.

* Grain traders Archer Daniels Midland Co and BungeLtd, which trade U.S. soybeans in China, were both off1.5 percent.

* Farming equipment maker Deere lost nearly $10 per share atits lowest. The company urged the two countries to work toward aresolution to "limit uncertainty for farmers and avoidmeaningful disruptions to agricultural trade".(Reporting by Yashaswini Swamynathan in Bengaluru; Editing byBernard Orr and Shounak Dasgupta)

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