After weeks of focused negotiations, the United States and Pakistan finalized a trade agreement on Wednesday, as both sides seek to boost bilateral trade, expanding market access, attracting investment, and fostering cooperation in areas of mutual interest. countries
Pakistan called the agreement a “landmark” development, amidst growing relationship between the two countries that according to experts has the potential to shape South Asia’s economic future. countries
President Donald Trump, earlier, announced the trade deal on his Truth Social platform, just a couple of days before August 1, 2025, deadline, when countries unable to strike a trade deal will face high reciprocal tariffs on goods exported to the United States.
The agreement will result in reduction of reciprocal tariff especially on Pakistani exports to the United States, Pakistan said. countries
“This deal marks the beginning of a new era of economic collaboration especially in energy, mines and mineral, IT, cryptocurrency and other sectors,” Pakistan’s embassy said in a statement countries
The breakthrough was reached during a meeting of Pakistan’s Finance Minister, Senator Muhammad Aurangzeb, with U.S. Secretary of Commerce Howard Lutnick and United States Trade Representative Ambassador Jamieson Greer in Washington, D.C., the Pakistani embassy said.
Commerce Jawad Paul and Pak Ambassador to the United States Ambassador Rizwan Saeed Sheikh were also part of the meeting.
In his remarks, Finance Minister Aurangzeb described the deal as a win-win agreement.
Trump announces trade deal with Islamabad; US to develop Pakistan’s ‘massive’ oil reserves
The deal complements Pakistan’s existing efforts of broadening the scope of Pak-U.S. economic ties and to include partnerships at the U.S. states level. The agreement enhances Pakistan’s access to the U.S. market and vice versa.
Additionally, the deal is expected to spur increased U.S. investment in Pakistan’s infrastructure and development projects.
This trade agreement underscores the commitment of both nations to deepen their bilateral relationship and explore all avenues for strengthening trade and investment ties.
Follow for more: Twitter (X) | Facebook | Instagram | LinkeIn
Huma Nisar is Associate Editor at Views News Now. She also writes opinion articles on health, society and diet.
