PEKIN (Reuters)-Chinese exports increased at a rate greater than expectations in July, show official data published Thursday, while manufacturers have sought to take full advantage of the fragile trade truce between China and the United States, with the hypothesis of American customs duties noted this month.

According to Chinese customs data, Chinese exports increased 7.2% over a year last month, against a consensus of +5.4%, after an increase of 5.8% in June.

For their part, Chinese imports climbed 4.1%in July, after an increase of 1.1%, while economists anticipated an average of 1.0%.

The administration of the American president Donald Trump set on August 12 as a deadline in Beijing to achieve a sustainable trade agreement, in the wake of sealed agreements in May and June to operate a commercial de-escalation between the two largest global economic powers by reducing non-tariff barriers in particular.

If no bilateral agreement were to be found, the world supply chains could face new turbulence, while Washington has threatened to replace customs duties over 100% on products from China – a de facto commercial embargo.

Donald Trump expressed his optimism on Tuesday on the conclusion of an agreement with Beijing, declaring that he would meet his Chinese counterpart Xi Jinping before the end of the year if that were the case.

According to Chinese customs data, China’s trade surplus was reduced in July to $ 98.24 billion, compared to $ 114.77 billion the previous month.

The United States’s trade deficit with China has been reduced to a lower for 21 years in June, according to separate data published Tuesday by the American Department of Commerce.

(Joe Cash; Jean Terzian)

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