Washington( The COW News Digital)In a breakthrough development, the United States and Pakistan have successfully concluded a significant trade agreement, resulting in a reduction of tariffs on Pakistani products in the US market.
the announcement came directly from US President Donald Trump through a post on his social media platform, Truth Social.
In his post, Trump once again took a swipe at India, stating that the US has reached a deal with Pakistan that will lead to the joint development of Pakistan’s vast oil reserves.
He revealed that the leadership is in the process of selecting a company to head this partnership. “Maybe one day, Pakistan will sell oil to India,” he added.
The newly signed agreement aims to promote bilateral trade, increase market access, attract foreign investment, and encourage cooperation in mutually beneficial sectors.
One of its major provisions includes a reduction in tariffs, especially on Pakistani goods exported to the United States, an outcome expected to enhance Pakistan’s global trade competitiveness.
This agreement was the result of a high-level meeting between Pakistan’s Finance Minister Senator Muhammad Aurangzeb, US Secretary of Commerce Howard Lutnick, and US Trade Representative Jamison Greer. Also present were Pakistan’s Secretary of Commerce, Jawad Paul, and Ambassador to the US Rizwan Saeed Sheikh.
The trade pact is poised to usher in a new era of economic collaboration between the two nations, with focus areas including energy, minerals, information technology, cryptocurrency, and more.
It also reinforces Pakistan’s push to expand its trade ties with individual US states and improve bilateral market access.
Additionally, the deal is expected to boost US investment in Pakistan’s infrastructure and developmental initiatives.
Both countries view this agreement as a reflection of their leadership’s commitment to deepening ties, enhancing economic cooperation, and mobilising efforts to solidify trade and investment relations.
