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Shares slide...Japan hits US beef with tariffs...New auto king of the hill



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HONG KONG (AP) — Asian and European shares slid Friday as investors assessed corporate earnings reports, with a sell-off in Wall Street tech stocks pressuring sentiment. Futures point to a lower Wall Street opening. Benchmark U.S. crude oil remains just above $49 a barrel. The dollar slipped against the yen and the euro.

TOKYO (AP) — In unwelcome news for American farmers, Japan says it is imposing emergency tariffs of 50 percent on imports of frozen beef, mainly from the U.S. , Japan can introduce safeguard tariffs when imports rise more than 17 percent year-on-year in any given quarter. U.S. farmers had been hoping for wider access to Japan's lucrative market through a Pacific Rim trade initiative, the Trans-Pacific Partnership. But U.S. President Donald Trump withdrew from that accord after taking office.

TOKYO (AP) — The alliance of Japanese automaker Nissan Motor Co. and Renault SA of France led in global vehicle sales for the first half of this year, the first time it has claimed top rank, beating perennial top-sellers Volkswagen, Toyota and General Motors. The Nissan-Renault alliance, which has included Mitsubishi Motors Corp. since it acquired the Japanese automaker last year, sold 5,268,079 vehicles around the world in January-June.

MILWAUKEE (AP) — A Rust Belt state that built a manufacturing legacy through assembly-line jobs will have to quickly transition to a more highly skilled workforce now that Foxconn has selected Wisconsin as the site of its coveted U.S. electronics plant. Foxconn is best known for making iPhones and other Apple products in China. It entered into a memorandum of understanding Thursday to build its first U.S. manufacturing plant in Wisconsin — a decision cheered for its potential to transform the state's economy. Many questions remain.

FREMONT, Calif. (AP) — For Tesla, everything is riding on the Model 3. The electric car company's newest vehicle is set to go to its first 30 customers today. Its $35,000 starting price — half the cost of Tesla's previous models — and 215-mile range could bring hundreds of thousands of customers into the automaker's fold, taking it from a niche luxury brand to the mainstream. But potential customers could lose faith if Tesla doesn't meet its aggressive production schedule, or if the cars have quality problems that strain Tesla's small service network.

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The Associated Press

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