New Delhi, May 18 -- The US and China have agreed to a 90-day truce in their trade war, with the former reducing tariffs from 145% to 30% on Chinese imports and the latter cutting them from 125% to 10% on US goods. After the tough talk of US President Donald Trump on 'Liberation Day,' this appears to be a climbdown.

But it is only a tactical retreat.

The truce was an outcome of marathon negotiations in Switzerland, a neutral country. Trump supporters will say that he achieved the goal of getting China to promise greater purchases of US goods, especially farm and energy products, and some concessions on intellectual property rights.

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