Washington: US President Donald Trump said representatives from Pakistan will come to the United States next week as the South Asian country is trying to enter into an agreement on customs.
Pakistan is facing a potential 29% duty on exports to the United States due to a $ 3 billion trade surplus with the world’s largest economy, under Customs announced by Washington last month in countries around the world. Tariffs were then suspended for 90 days so that negotiations could take place.
Last month, Pakistan decided to send a high -level delegation to the United States to negotiations aiming to improve bilateral trade conditions and tackle concerns related to newly imposed US tariffs on Pakistani imports.
The decision was made by the instructions by Prime Minister Shehbaz Sharif during a review meeting held in Islamabad on April 9 with Huddle with a focus on increasing national exports and discussing Washington’s recent customs measures.
The delegation will include prominent business figures and leading exporters reflecting the government’s intention to engage key stakeholders in shaping a mutually advantageous way forward.
In today’s speech, Trump said he would have no interest in making an agreement with the South Asian country or its neighbor, India, if they were to go to war with each other.
Trump’s remarks come a day after Pakistan formally started negotiations with the United States on mutual tariffs as Islamabad tries to exploit the Trump administration’s interest in increasing trade with South Asia.
Finance Minister Muhammad Aurangzeb and Ambassador Jamieson Greer, the US Trade Representative, formally began the conversations through a telephone call on May 30 (today), said a Finance Minister at X.
Earlier this month, Pakistan had offered a bilateral trade agreement with zero-customs to the United States, government sources told Pakinomist News.
“Pakistan offers to enter into a bilateral agreement with zero customs duties on selected customs lines with mutual interests to expand bilateral trade across multiple sectors,” a high-level source said when asked about the new policy offered to the United States.
In a statement today, the adviser, Khurram Schehzad, said: “Both sides exchanged their point of view through a constructive commitment with the understanding that the technical level detailed discussions would follow in the coming weeks.
The two sides expressed confidence to promote the negotiations for a successful conclusion at the earliest, he added in an X -post.
Minister of Commerce Jam Kamal told Reuters Earlier this month, this Pakistan plans to offer concessions to US companies to invest in its mining sector as part of the negotiations with Washington on Customs.
He said Islamabad will offer US companies opportunities to invest in mining projects primarily in Pakistan’s Balochistan province through joint ventures with local businesses that provide concessions such as leasing grants.
The minister added that this would be beyond the effort to increase imports from the United States, especially cotton and edible oils, which are currently in short supply in Pakistan.
Pakistan set off his offer of concessions for mining investments to US officials during conversations about tariffs in the coming weeks.
“There is untapped potential for US companies in Pakistan, from mining machines to carbon hydrid ventures,” he said in an interview with Reuters on May 23.
US President Donald Trump has said he is working on “big deals” with both Pakistan and India, following Washington’s key role in mediation of a ceasefire between Pakistan and India earlier this month after the worst matches in decades between the nuclear -armed neighbors.
“The former US administration focused more on India, but Pakistan is now recognized as a serious trading partner,” Kamal said.
Pakistan will gradually lower the duty in his upcoming federal budget, Kamal said.
He said the United States has not specified trading barriers or priority sectors.
