Trade talks between Pakistan, US conclude
Business
Ministry of Commerce leads the trade negotiations
ISLAMABAD (Zeeshan Yousafzai) – The ongoing trade negotiations between Pakistan and the United States have concluded. Discussions between the two delegations on trade tariffs took longer than initially scheduled, but the talks have now entered their final phase.
A senior government official closely monitoring the matter told Dunya News on condition of anonymity that negotiations between the Pakistani delegation in the US and American trade officials have been successfully concluded. Further progress regarding trade tariffs is expected in the coming days. Both countries are moving toward an agreement on a comprehensive trade framework, which will require some major decisions – hence, more time is needed.
Sources revealed that the US had imposed a 29% tariff on Pakistan, which has been temporarily suspended for 90 days. The Pakistani delegation has now completed negotiations on this tariff, and the prospects for permanent relief appear promising.
According to Federal Minister for Petroleum, Ali Pervaiz Malik, Pakistan has decided to purchase crude oil from the United States. The chances of crude oil imports from the US are looking bright, and as soon as the trade agreement is finalised, Pakistan will move toward implementing this plan.
He stated that the WTI (West Texas Intermediate) oil market – a major US crude oil market – is $3 to $4 per barrel cheaper than the Brent market, making it an economically viable option for Pakistan.
The Petroleum Minister also mentioned that the Ministry of Commerce is currently leading the trade negotiations with the US, and the Ministry of Petroleum is also participating in these consultations.
Sources said that the Pakistani delegation was led by Secretary of Commerce Jawad Paul, who held multiple meetings with US Trade Representative Jamieson Greer and other senior officials. These negotiations have been ongoing for the past month.
A few days ago, after a meeting between Pakistan’s Finance Minister Muhammad Aurangzeb and US Secretary of Commerce Howard Luttnick, the Ministry of Finance officially confirmed this development.
Officials stated that the main focus of the negotiations was on reciprocal tariffs, and this is part of an effort to establish a new foundation for Pakistan–US economic relations in light of global economic conditions.
It is noteworthy that in 2024, Pakistan achieved a trade surplus of approximately $3 billion with the United States, reflecting the strong economic ties between the two countries.
Read more: Pakistan proposes zero-tariff bilateral trade agreement to United States
