A ship carrying liquefied natural gas (LNG) is towed out of the Port of Rotterdam on January 13, 2025 in Rotterdam, Netherlands.
Pierre Crom | Getty Images
President Donald Trump has opened a potential pathway for trade partners to avoid higher tariffs — buy more energy from the U.S.
Trump paused “reciprocal” tariffs on countries except China on Wednesday in an attempt to pull back from a full-blown global trade war. Most nations now face a base tariff rate of 10% and have a three-month period to negotiate bilateral deals with the U.S. to avoid higher duties on their goods.
Trump says he wants to slash the U.S. trade deficit and achieve what he calls “energy dominance.” He linked those two goals Monday, demanding that the European Union buy $350 billion of American energy to erase its trade surplus with the U.S. The Office of the U.S. Trade Representative said the U.S. had a goods trade deficit of $235.6 billion with the EU in 2024.
“They’re going to have to buy our energy from us, because they need it,” Trump told reporters at the White House. “We can knock off $350 billion in one week,” the president said. The European Union faces a 20% tariff rate if it does not reach a deal with Trump.
The U.S. is the largest oil and gas producer in the world. It is the third-largest crude exporter and the largest liquefied natural gas exporter in the world. Energy represented about 15% of total U.S. exports in 2024, according to research from Barclays.
LNG is “the commodity where there’s room for countries to increase their energy imports from the US,” Barclays analysts led by Betty Jiang told clients in a Tuesday note.
Alaska LNG project
Treasury Secretary Scott Bessent told CNBC on Tuesday that a potential investment by Japan, South Korea and Taiwan in a flagship LNG project in Alaska could form the basis of a deal with those countries. They would provide financing for the project and also purchase a significant amount of LNG from it, Bessent said.
“That could be an alternative for them to come forward with that because not only would that provide a lot of American jobs, but it would narrow the trade deficit,” the Treasury secretary said. Japan faces a 24% tariff rate and South Korea a 25% rate if they don’t clinch deals with U.S.
Trump has sought to boost U.S. LNG exports since taking office, with a focus on developing Alaska’s resources. He issued an executive order on his first day in office prioritizing LNG development in the state and singled out the Alaska LNG project in his address to Congress in March.
The proposed Alaska LNG project would transport natural gas from the state’s North Slope through an 807-mile pipeline south to a liquefaction facility at Nikiski on the Cook Inlet for export to Asia. It would cost more than $40 billion to complete, according to a 2018 estimate from one of the developers, Alaska Gasline Development.
Interior Secretary Doug Burgum told a conference in Houston last month that the Trump administration views the project as crucial to U.S. energy security and independence.
The European Union, Japan and South Korea are already major purchasers of U.S. LNG. The EU bought 39% of U.S. LNG exports in 2024, followed by Japan at 7%, South Korea at 6% and India at 5%, Barclays said.
Rivian has posted a job listing for a steering engineer, specifically mentioning work on a future steer-by-wire system for the company.
Steer-by-wire is an automotive concept that has been around for a long time, but hasn’t yet reached mass adoption. The idea is to replace (or supplement) mechanical linkages between the steering wheel and the wheels with electronic actuators instead.
There are a number of potential benefits to this, like allowing more customizability or adaptability to a steering system, reducing mechanical complexity, or adding speed-sensitive variable steering ratios.
Although there are also disadvantages, like a reduction in steering feel (although, since most cars are moving to electronic power steering, that was already gone anyway).
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But few cars have implemented steer-by-wire systems, or at least not fully committed to them, given that mechanical steering racks are a relatively solved problem and the general inertia of the car industry which would rather stick with a solution they know than switch to something better (haven’t we here, at this EV publication, heard *that* one before…). There’s also the matter of regulations, which have often been written to require mechanical steering systems, and may need updating to allow for steer by wire.
But, steer by wire made it into mass production with the release of the Tesla Cybertruck. This was big news when Tesla committed to this – at the time, it was the only thing on the road to exclusively use a steer by wire system, though there are other cars with partial steer by wire (for example, mechanical front wheel steering, and steer by wire rear-wheel steering).
But it seems to have opened the floodgates, as a number of other companies are working on or have since released steer by wire systems (Lexus, for example).
And now, it looks like Rivian is one of those companies – though we don’t know if it’s for the front or rear.
So – we know they’re working on steer by wire, to some extent.
But a few other EVs, particularly large EVs like the Rivian R1 platform is, use steer by wire just for the rear wheels – for example the Hummer EV and Rolls-Royce Spectre. These systems are particularly helpful for giant vehicles, because it allows them to be more nimble and make turns that otherwise would require a lot more… negotiation in a giant land yacht.
So it’s possible that Rivian is only working on rear wheel steer by wire here, but we’d like to think there’s a chance it’s working on steer by wire for the full vehicle.
We also don’t know if this would show up on all of Rivian’s vehicles, or only on certain models – the R2 and R3 are in development, and the R1 just got a big refresh. But, perhaps even more interestingly (and very speculatively), VW has invested heavily in Rivian for technology help, so we wonder if we might end up seeing this in VW group vehicles, or Scout vehicles eventually…
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Hyundai’s electric sports car just got a whole lot cheaper. The 2025 Hyundai IONIQ 5 N now costs $150 less per month to lease after another unexpected price cut.
How much is it to lease the 2025 Hyundai IONIQ 5 N?
The new and improved 2025 IONIQ 5 is coming off its best US sales month yet in July, but that isn’t stopping Hyundai from wanting more.
After Hyundai cut lease prices on all trims last month to as low as $179 per month, it’s now offering even more savings.
The 2025 Hyundai IONIQ 5 N is now listed for lease at just $549 per month. The offer is for 36 months, with $3,999 due at signing. At an effective monthly rate of $660, Hyundai’s EV is $150 cheaper a month than it was in July.
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Hyundai is currently offering some of the best deals on electric cars, with the 2025 IONIQ 5 SE Standard Range listed for lease at just $179 per month.
2025 Hyundai IONIQ 5 at a Tesla Supercharger (Source: Hyundai)
The Standard Range model has a driving range of 245 miles. If you’re looking for more, the Extended Range SE, with a range of 318 miles, is available to lease from $199 per month.
You can even lease the rugged new XRT trim right now for under $300 a month. All deals are for 24 months with $3,999 due at signing and end on September 2
2025 Hyundai IONIQ 5 Trim
EV Powertrain
Driving Range (miles)
Starting Price*
Monthly lease price July 2025
IONIQ 5 SE RWD Standard Range
168-horsepower rear motor
245
$42,500
$179
IONIQ 5 SE RWD
225-horsepower rear motor
318
$46,550
$199
IONIQ 5 SEL RWD
225-horsepower rear motor
318
$49,500
$209
IONIQ 5 Limited RWD
225-horsepower rear motor
318
$54,200
$309
IONIQ 5 SE Dual Motor AWD
320-horsepower dual motor
290
$50,050
$249
IONIQ 5 SEL Dual Motor AWD
320-horsepower dual motor
290
$53,000
$259
IONIQ 5 XRT Dual Motor AWD
320 horsepower dual motor
259
$55,400
$359
IONIQ 5 Limited Dual Motor AWD
320-horsepower dual motor
269
$58,100
$299
IONIQ 5 N Dual Motor AWD
Up to 601-horsepower dual motor
221
$66,200
$549
2025 Hyundai IONIQ 5 price, range, and lease price
With the $7,500 EV tax set to expire at the end of September, Hyundai is offering savings across its entire electric car lineup.
Even Hyundai’s new three-row electric SUV is surprisingly affordable. The 2026 INIQ 9 is listed with monthly lease prices as low as $419 per month.
In the Electrek Podcast, we discuss the most popular news in the world of sustainable transport and energy. In this week’s episode, we discuss Elon Musk getting a sweet $26 billion payday from Tesla while the company gets flooded with lawsuits and Dojo is dead.
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