So, good news. And bad news. Let's start with the good.

The US administration seems to be softening its tone somewhat when envisaging a possible deal with China, with the White House talking of a "substantial" lowering of tariffs on the country. The US increased tariffs on all imports from China to 145 percent earlier this month, while implying that the country faces up to a 245 percent tariff on some goods "as a result of its retaliatory actions". But the US president acknowledged on Tuesday that 145 percent is a "very high" level, and that he hopes it will "come down substantially" if the two sides engage in talks.

US Treasury Secretary Scott Bessent said on Tuesday that he expects a "de-escalation" in the trade war between the world's two largest economies, saying that the tariff showdown is unsustainable.

It is well acknowledged that Beijing has stood its ground in response to the US administration's "shock and awe" tariff strategy, announcing tit-for-tat measures. It would be dreaming of dragons to perceive Beijing as being brought to its knees through intimidation by whatever means. It can be expected that any deal, should one materialize, will involve both sides making concessions.

But it is too early to conclude from the seemingly conciliatory remarks of the US leader that the White House has returned to its senses in dealing with China, especially given its capricious behavior and zero-sum mentality.

Which brings us to the bad news.

According to reports, US trade officials have finalized steep tariffs on most solar cells from Southeast Asia, after the American Alliance for Solar Manufacturing Trade Committee accused Chinese solar panel makers with factories in Malaysia, Cambodia, Thailand and Vietnam of receiving unfair subsidies that allowed them to ship panels priced below their cost of production, making US goods uncompetitive.

If these tariff barriers come into effect, they will inflate the import costs for green technologies, not only obstructing the global energy transition but potentially derailing economies from their carbon neutrality road maps.

The US president's reelection campaign produced the memorable sound bite "We will drill, baby, drill" on the back of $75 million donated by the fossil fuel industry. This secured the declaration of a national emergency to enable the federal denial of the scientific evidence and the transfer of pollution costs from industry to the global population.

The emergency was declared on the falsehood that "hostile state and nonstate foreign actors" have targeted the US domestic energy infrastructure, and weaponized its "reliance on foreign energy" on the realization that China is leading the world to a sustainable future as the world's largest producer of clean energy and green technology.

The targeting of China's green technology by the US administration is willing to let the world "burn, baby, burn" so long as the US is atop the bonfire of its vanity.

The latest tariff range-finding in addition to other aggression targeting China — such as the announcement of hefty port fees on Chinese ships in the US' ports and plans to pressure countries into restricting trade with China in exchange for exemptions from US tariffs — has greatly undermined the likelihood of a deal with China.

Beijing has always said the door to talks is open, and Foreign Ministry spokesman Guo Jiakun reaffirmed this on Wednesday. But it is its consistent position that applying pressure, making threats and blackmailing are not the correct ways to deal with the differences between the two countries. If the US really wants to engage in dialogue, it should create an atmosphere conducive to negotiations on the basis of "equality, mutual respect and mutual benefit".

The White House press official said the US president and the administration "are setting the stage for a deal". Hopefully, this means what it says, because it will serve both countries' interests and the rest of the world if the US administration can bear the big picture of China-US relationship in mind and try to find a workable solution to its trade disputes with China based on equality and mutual benefits.

Unfortunately, the direct collision between trade policy and climate objectives that the proposed solar panel tariffs herald exposes the hubris of Washington, which is willing to hold the well-being of all hostage to "Make America Great Again".

The world is not what it was, the US needs to get along to go along. Agreements are two-way streets. The trade talks it is trying to precipitate with China and other countries are a chance for the US to listen rather than just dictate.