• The US remains Pakistan’s largest export destination.
• Management, working groups formed for response.
• Pakistan seeks to end the agreement by April 9.

Finance Minister Muhammad Aurangzeb expressed optimism that the current concerns about US tariffs could be transformed into a mutually advantageous opportunity for both countries.

“We want to make sure that with regard to our representations, we argued how we see it in the medium to the long term as a win-win situation for both Pakistan and the United States,” Aurangzeb said during a press conference in Islamabad on Saturday.

US President Donald Trump has imposed a staggering 29% duty on imports from Pakistan – one of the sharpest economic strikes in recent history.

The US remains Pakistan’s top export destination, and according to the State Bank of Pakistan, total exports to the United States in the financial year made up 2023-24 $ 5.44 billion.

This unprecedented charge, part of the most aggressive US trade policy in nearly a century, has rattled the global markets and put new economies on the edge.

For Pakistan, whose textile industry is strongly dependent on exports to the United States, this duty is more than just an economic setback – it is a direct hit to its financial backbone.

The country with over 240 million people is now facing a 29% duty (which will begin on April 9) on its exports to the United States, significantly higher than 10% baseline, which came into force on April 5 (today). After April 9, all Pakistani exports will be charged a duty of 39%.

A veteran banker, the Minister of Finance emphasized that Islamabad considers the issue not only as a challenge, but also as a chance to elaborate on economic cooperation with his largest export market.

He emphasized that the United States is an important strategic and trading partner for Pakistan and added that the government is approaching the case with a comprehensive response plan.

To this end, Prime Minister Shehbaz Sharif has put together two specialized bodies: a management committee who is chairman of Aurangzeb himself and consists of ministers, prominent business leaders, secretaries and academics; and a working group led by the trade secretary.

Aurangzeb noted that although the situation presents immediate challenges, it also opens doors to negotiation and long -term commitment. “You should never let a good crisis go to waste,” he noted, and emphasized the government’s intention to formulate and present a well -structured package to the US administration.

The Minister of Finance said the recommendations are expected to be completed in the coming days and submitted to the Prime Minister for approval.

Then a high -level delegation raises to Washington to convey Pakistan’s attitude and further dialogue with US officials. He confirmed that Islamabad remains “very constructively engaged” and hopes to strengthen the relationship through strategic discussions before the coming time on April 9 for the 29% duty.