US-China truce announcement on tariff war brings relief

China agreed to lower tariffs on US imports from 125% to 10%, according to a joint statement on Monday

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ever, he added that the deals suggest "it is not necessary that India will retain its position as a geography with favourable import duties in the US among the world's top consumer electronics markets".

"This means that the euphoria that India had at the onset of US President Trump's trade tariffs about it being a favourable geography could very well turn out to be misplaced," Chandak said.

At the same time, Chandak believes there is no reason to worry, since supply chain diversification is a reality for all major companies worldwide, "and India, with its central government-driven push, will almost certainly get a decent share of business moving away from China".