DETROIT – US Commerce Secretary Gina Raimondo and Chinese Commerce Minister Wang Wentao exchanged barbs on trade, investment and export policies in talks on Thursday described by Ms Raimondos office as candid and substantive.
Their meeting in Washington was the first US-China Cabinet-level exchange in months, after a string of trade and national security irritants derailed plans for re-engagement between the worlds two largest economies.
The two had candid and substantive discussions on issues relating to the US-China commercial relationship, including the overall environment in both countries for trade and investment and areas for potential cooperation, the US Commerce Department said in a statement.
Secretary Raimondo also raised concerns about the recent spate of PRC (Peoples Republic of China) actions taken against US companies operating in the PRC, it added.
Mr Wang raised key concerns about United States policies towards China, including on semiconductors, export controls and reviews of foreign investments, a Chinese Commerce Ministry statement said.
Both sides agreed to establish and maintain open communication channels, with Ms Raimondos office saying that would help responsibly manage the relationship.
Chinas Commerce Ministry said the communications would allow exchanges on specific economic trade concerns and cooperation matters.
Mr Wang is also expected to meet US Trade Representative Katherine Tai on the sidelines of an Asia-Pacific Economic Cooperation trade ministers meeting in Detroit that wraps up on Friday.
US President Joe Biden and Chinese President Xi Jinping pledged more frequent communication at a Group of 20 summit in Indonesia last November to avoid US-China tensions from spilling into a new Cold War.
But those plans suffered several setbacks, starting with the downing of an alleged Chinese spy balloon in US coastal waters.
These irritants continued through on Sunday, when Group of Seven (G-7) leaders pledged to resist Chinas economic coercion and Beijing responded by declaring US memory chipmaker Micron Technology a national security risk, banning its sales to key domestic industries.
The ban followed a series of raids on American consultancies in China.
On Monday, Mr Wang met representatives of American companies in Shanghai, including Johnson & Johnson, 3M, Dow, Merck and Honeywell, according to Chinas Commerce Ministry, telling them that China will continue to welcome US-funded enterprises to develop in China and achieve win-win results.
China has complained about the growing number of US export restrictions on advanced semiconductors and high technology goods that could have military applications and security reviews that discourage Chinese investment in the US.
Mr Wangs trip to the US comes after Group of Seven (G-7) leaders met in Hiroshima, Japan, at which Mr Biden and other G-7 leaders said they would de-risk without decoupling from the worlds second-largest economy in everything from chips to minerals.
Ms Raimondo, Secretary of State Antony Blinken and Treasury Secretary Janet Yellen have all expressed interest in visiting China. REUTERS More On This Topic Biden sees thaw in US-China ties shortly, says G-7 wants to de-risk, not decouple US and China not in Cold War, reality is more complex: Experts at Singapore forum
We’re now two months out from the end of the $7,500 federal EV tax credit on September 30, and there are still solid deals to be had on some pretty spiffy EVs. In fact, three of our top five November specials are cheaper than what was offered in September, and two come with home EV chargers and free installation. Here are November’s top 5 EV lease deals, as spotted by our friends at CarsDirect.
Photo: Hyundai
2025 Hyundai IONIQ 5 lease from $189/month
The updated 2025 Hyundai IONIQ 5 SE RWD Standard Range is still a standout EV lease deal, holding steady even after the end of the federal EV tax credit and new import tariffs. Through December 1, you can lease one for $189 a month for 36 months (10,000 miles per year) with $3,999 due at signing. That works out to an effective monthly cost of about $300.
The price bump is far smaller than many expected, especially considering Hyundai’s $17,000 in lease cash. And if you’re tempted by an upgrade, the SEL RWD trim is just $50 more per month under the same terms. You’ll get a model that’s roughly $7,000 more in value and $18,750 in savings. The IONIQ 5 SE RWD Standard Range offers an EPA-estimated 245 miles of range, and this particular offer is available in the Los Angeles and greater California metro areas.
The 2025 Hyundai IONIQ 6 SE RWD Standard Range is tied with the IONIQ 5 for the most affordable EV lease deal this month, offering standout value even after the federal EV tax credit era. In the California metro area, you can lease it for $189 per month for 36 months (10,000 miles per year) with $3,999 due at signing, and Hyundai is sweetening the deal with $13,000 in lease cash.
That brings the effective monthly cost to around $300. With an EPA-estimated 240 miles of range, 149 horsepower, fast-charging capabilities, and a sleek, distinctive design, the IONIQ 6 remains a fan favorite. This offer is valid through December 1.
The 2025 Ford Mustang Mach-E Select RWD with Package 100A is offering bigger savings this month, making it an even stronger pick for EV shoppers. Known for its premium design and an EPA-estimated 300 miles of range, the Mach-E remains a favorite among drivers who want style and substance.
You can now lease it for $219 per month for 24 months (10,500 miles per year), with a down payment of $4,499 due at signing. That’s $20 less per month than the September advertised deal, although the term is shorter. With an effective monthly cost of around $406, it’s only $45 more than before the tax credit ended.
The offer includes $6,750 in lease cash for qualified lessees, plus a free Ford Charging Station Pro with complimentary home installation – a rare perk. If you already have a home charger, you can opt for an additional $2,000 in bonus cash instead. This deal is currently available in California through January 5, 2026.
Until January 5, the 2025 Honda Prologue, with a 308-mile range, can be leased for $239 a month for 36 months (10,000 miles) and $1,199 due at signing in Connecticut, Massachusetts, and Maryland. That means the Prologue has an effective monthly cost of $272, making it a great value.
For those in California and other CARB-emission states, you can lease for $279 for 36 months (10,000 miles) and $1,299 due at signing, resulting in an effective monthly cost of $315. This was the best-priced lease deal before the new East Coast three-state offer.
The price includes a $3,300 loyalty discount or conquest cash, available only to those currently leasing a Honda or planning to switch from another manufacturer in select states. If you aren’t living in California, Florida, New York, or other select states, you’re still eligible for a bonus of $2,000.
These bonuses are stackable with the $5,000 dealer cash, $8,250 Honda lease cash, and a $1,500 additional lease bonus, which replaces the $7,500 tax credit.
You can now lease a 2025 Ford F-150 Lightning 4×4 Super Crew XLT w/ Pkg 311A for a low monthly payment of $279 for 36 months (10,500 miles) and $6,729 due at signing. With an MSRP of $65,190, that makes the effective monthly cost of $466. It has an EPA-estimated range of 240 miles and 452 hp.
That’s $23 less a month than the advertised September lease deal with the federal tax credit. The offer includes $9,500 in lease cash and, like the Mach-e, a complimentary home EV charger and installation or an additional $2,000 in savings. This offer is available in California through January 5, 2026.
The 30% federal solar tax credit is ending this year. If you’ve ever considered going solar, now’s the time to act. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them.
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The new Nexo is a significant upgrade over the first model, but will Hyundai’s fuel cell EV make an impression in the US?
Meet the new Hyundai Nexo fuel cell EV
Hyundai is launching a slate of new vehicles, ranging from EVs to plug-in hybrids (PHEVs) and even fuel-cell electric vehicles.
First launched in 2018, the Nexo marked a milestone as Hyundai’s first dedicated hydrogen fuel cell vehicle. Although it wasn’t exactly a hit due to the lack of hydrogen fueling stations, especially in the US, Hyundai is taking another crack at the market with its new and improved fuel cell EV.
Hyundai introduced the new Nexo earlier this year, claiming it’s “poised to set a new standard for zero-emission transportation.”
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With significant upgrades to its fuel cell and power electronics systems, the new Nexo features up to 190 kW total output and a WLTP driving range of up to 513 miles (826 km) from a five-minute hydrogen refill.
The new Hyundai Nexo fuel cell EV (Source: Hyundai)
It also boasts features such as Active Noise Control, road-noise-canceling tech, sound-absorbing tires, e-Handling, and a Smart Regenerative System (SRS), which delivers a smooth, quiet ride.
Inside, Hyundai’s new Connected Car Navigation Cockpit (ccNC) sits at the center, featuring dual 12.3″ driver cluster and infotainment screens. The setup includes OTA updates and wireless Apple CarPlay and Android Auto.
The interior of the new Hyundai Nexo fuel cell EV (Source: Hyundai)
Like its battery electric vehicles, the new Nexo offers vehicle-to-load (V2L) capabilities, enabling you to power electronics on the go.
A digital center mirror and digital side mirrors are available in select markets (not the US), replacing the traditional mirrors. In addition, the European-spec version can tow up to 1,000 kg (2,200 lbs), the first fuel cell EV to offer that level of capability.
The Nexo is 4,750 mm long, 1,865 mm wide, and 1,640 mm tall, with a wheelbase of 4,750 mm, or about the size of a Honda CR-V.
The new Hyundai Nexo fuel cell EV (Source: Hyundai)
Although Hyundai is committed to expanding FCEV infrastructure, it might not be enough to lure buyers in the US.
Hyundai said the new Nexo fuel cell EV is already a hit in South Korea, where hydrogen fueling stations far outnumber those in the US. The company sold nearly 7,000 new Nexo models globally through August, more than four times the previous generation’s sales in the same period last year.
Will the new and improved Nexo make a bigger impact? According to Car and Driver, which test drove the updated FCEV, “the compact Nexo will need far more than clever engineering to make it big in the US.” In Hyundai’s home market, it’s already proving more popular.
Hyundai will launch the new fuel cell EV in other global markets starting in early 2026.
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The US government is moving closer to reopening after more than 40 days of being shut down, following several Democratic lawmakers in the Senate siding with Republicans to pass a funding bill.
On Monday, the US Senate held a late-night vote for a bill “continuing appropriations and extensions for fiscal year 2026,” which passed 60 to 40 in the chamber. The bill is expected to fund the government through Jan. 31, 2026, provided it passes in the House of Representatives and is signed into law by President Donald Trump.
As Tuesday is a US federal holiday, the House is not expected to reconvene to vote on the bill until Wednesday at the earliest. Prediction platform Polymarket has already adjusted its expectation that the US government will return to normal operations on Friday, likely following the passage of the House bill.
Amid the government shutdown — the longest in the country’s history — many federal agencies have furloughed staff and reduced operations to align with the lack of funding.
Even if the bill were to immediately pass and be signed into law, it will likely take some time before staff can return to work. The operations plan at the US Securities and Exchange Commission (SEC), for example, will allow employees to come back on the “next regularly scheduled workday following enactment of appropriations legislation.”
Digital asset market structure negotiations proceeding
On Monday, the leadership of the Senate Agriculture Committee released a discussion draft of a comprehensive bill on crypto market structure. The draft followed weeks of reported negotiations between Democratic and Republican lawmakers, about four months after the House passed its version of the legislation.
The shutdown likely helped slow progress on the bill, which Republican leaders initially expected to be out of the Agriculture Committee and Banking Committee by the end of October and signed into law by 2026.
Though Republicans still have a path forward to enact the legislation, North Carolina Senator Thom Tillis warned that pushing the passage beyond January or February could make the bill vulnerable amid the 2026 midterm campaigns.