Pakistan, US Expected to Finalize Reciprocal Tariff Deal Next Week

Pakistan and the United States are nearing the conclusion of trade negotiations focused on reciprocal tariffs, with an agreement expected next week. These talks aim to resolve issues stemming from the 29% tariff imposed by President Donald Trump on Pakistani exports as part of efforts to address trade imbalances, with Pakistan’s surplus at around $3 billion in 2024. To ease tariff pressures, Pakistan has offered to increase imports of U.S. goods, including crude oil, and open investment opportunities, particularly in the mining sector, highlighted by the $7 billion Reko Diq copper-gold project. Both countries have expressed satisfaction with the progress, emphasizing a broader strategic and investment partnership alongside trade negotiations. Pakistani officials, including Finance Minister Muhammad Aurangzeb, have engaged closely with U.S. counterparts and investors to promote regulatory reforms and public-private partnerships. The deal is seen as vital for maintaining Pakistan’s access to key U.S. markets and fostering stronger bilateral economic ties.