- New US duties: 30% -

Washington agreed to reduce tariffs on Chinese goods from the additional 145 percent announced by President Donald Trump in April to 30 percent -- which will still be applied on top of pre-existing duties.

The new figure includes a 20-percent tariff Trump has imposed to pressure Beijing to do more to fight fentanyl trafficking, which has caused an addiction crisis in the United States.

- New Chinese duties: 10% -

Beijing, which had hit back at Trump's tariffs with retaliatory duties of 125 percent on US imports, agreed to slash them to 10 percent.

Each side thus agreed to cut its existing tariffs by 115 percentage points.

- 90 days -

The temporary truce reached in Geneva will take effect May 14, for a period of 90 days.

The two sides agreed to continue talks "in the spirit of mutual opening, continued communication, cooperation and mutual respect".

- Tariff spiral -

The world's top two economies had been waging an escalating war of tit-for-tat tariff measures since Trump returned to the White House in January.

Trump started his new term slapping additional duties of 10 percent on Chinese goods -- soon increased to 20 percent -- in response to China's role in fentanyl production.

Then, announcing his "Liberation Day" tariffs on April 2, Trump slapped an additional 34-percent levy on Chinese goods.

When China retaliated with a 34-percent tariff on US goods, Trump hit back, bringing the tariff to 104 percent.

China then upped its tariff to 84 percent, and Trump counter-attacked with 125 percent.

Adding the separate fentanyl-linked tariff, total US levies on Chinese goods had risen to 145 percent by April 10.