Pakistan faces a potential 29% tariff on exports to the United States due to a $3 billion trade surplus with the world's biggest economy, under tariffs announced by Washington last month on countries around the world. Tariffs were subsequently suspended for 90 days so negotiations could take place.
Pakistan last month decided to dispatch a high-level delegation to the US for negotiations aimed at enhancing bilateral trade relations and addressing concerns related to newly imposed US tariffs on Pakistani imports.
The decision was made on the instructions of Prime Minister Shehbaz Sharif during a review meeting held in Islamabad on April 9 with the huddle focusing on increasing national exports and discussing the Washington's recent tariff measures.
The delegation will include prominent business figures and leading exporters, reflecting the government’s intent to engage key stakeholders in shaping a mutually beneficial path forward.
In today's talk, Trump said he would have no interest in making a deal with the South Asian country or its neighbour, India, if they were to engage in war with each other.
Trump's remarks come a day after Pakistan formally kicked off negotiations with the US on reciprocal tariffs as Islamabad seeks to capitalise on the Trump administration’s interest in boosting trade with South Asia.
Finance Minister Muhammad Aurangzeb and Ambassador Jamieson Greer, United States Trade Representative, formally began the talks through a telephonic call on Thursday, an advisor to the finance minister said on X.
Earlier this month, Pakistan had offered a zero-tariff bilateral trade agreement to the United States, government sources told Geo News.
"Pakistan is offering to enter into a bilateral agreement with zero tariffs on selected tariff lines, with mutual interests, to expand bilateral trade across multiple sectors," said a high-level source when asked about the new policy offered to the US.
In a statement today, the advisor, Khurram Schehzad, said: “Both sides exchanged their viewpoint through a constructive engagement with the understanding that technical level detailed discussions would follow in the coming weeks.
The two sides expressed confidence in advancing the negotiations for a successful conclusion at the earliest, he added in a X post.
Commerce Minister Jam Kamal told Reuters earlier this month that Pakistan plans to offer concessions to US companies to invest in its mining sector as part of negotiations with Washington over tariffs.
He said that Islamabad will offer US businesses opportunities to invest in mining projects primarily in Pakistan's Balochistan province through joint ventures with local companies, providing concessions like lease grants.
The minister added that this would be in addition to efforts to increase imports from the United States, particularly cotton and edible oils, which are currently in short supply in Pakistan.
Pakistan would put its offer of concessions for mining investment to US officials during talks over tariffs in the coming weeks.
US President Trump has said that he’s working on "big deals" with both Pakistan and India, following Washington’s key role in brokering a ceasefire between Pakistan and India earlier this month following the worst fighting in decades between the nuclear-armed neighbours.
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