Strategic Trade Talks: Pakistan and US Near Agreement

Pakistan and the US are set to conclude strategic trade talks next week. The negotiations, which aim to create a long-term investment partnership, have been positive. Pakistan faces a 29% tariff on its US exports and proposes importing more US goods to balance the trade deficit.

Upcoming trade talks between Pakistan and the US are expected to reach their conclusion next week, as confirmed by an official statement on Wednesday.

The announcement followed a virtual meeting between Pakistan's Finance Minister Muhammad Aurangzeb and US Commerce Secretary Howard Lutnick, as reported by the Finance Ministry.

Both parties are keen to finalize the agreement quickly, which will encompass mutual strategic and investment interests.

"Both sides are pleased with the ongoing negotiations and are determined to wrap up the discussions next week," the finance ministry noted, highlighting the pursuit of a longer-term strategic partnership.

President Trump's administration imposed a 29% tariff on Pakistani exports, which aimed at countering a projected USD 3 billion surplus in 2024.

In response, Pakistan has proposed increased imports of US goods, including crude oil, and has offered investment opportunities for US companies in its mining sector to address the trade imbalance.

(With inputs from agencies.)