Donald Trump announces US-Pakistan oil trade deal after India tariff move, says joint energy project may supply India in future. Photo/X.
US-Pakistan Trade Deal: After imposing 25% tairfff on India, US President Donald Trump on Wednesday announced that his adminstration has has finalized a ‘massive’ trade deal with Pakistan under which both the countries will jointly develop the Islamabad’s vast oil reserves.
“We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive Oil Reserves,” Trump stated in a Truth Social post. “We are in the process of choosing the Oil Company that will lead this Partnership. Who knows, maybe they’ll be selling Oil to India some day!”
Trump’s announced the trade deal with Pakistan just days after US Secretary of State Marco Rubio met with Foreign Minister Ishaq Dar on Friday. The meeting appeared to pave the way for the deal, with Dar signaling imminent progress.
“I think we are very close to finalizing a deal with the US,” Dar said at a panel discussion hosted by the Atlantic Council.
“Our teams have been here in Washington, discussing, having virtual meetings, and a committee has been tasked by the prime minister to fine-tune now.”
Also Read: Donald Trump Slaps 50% US Tariffs on Brazil and Copper Imports in Major Trade War Escalation
In the same Truth Social post, Trump revealed he would be meeting with South Korean officials later in the day to discuss their proposed plan to reduce tariffs on U.S. imports. Currently, South Korea imposes a 25% tariff on goods entering the U.S.
“South Korea is right now at a 25% Tariff, but they have an offer to buy down those Tariffs,” Trump wrote. “I will be interested in hearing what that offer is.”
Earlier in July, Trump announced that the US would impose new 25% tariffs on imports from both Japan and South Korea, effective August 1. He warned that any retaliatory tariff increases by these countries would result in reciprocal hikes by the U.S.
Trump concluded his post by highlighting that other countries have also begun offering tariff reductions, which he claims will contribute to narrowing the US trade deficit.
“Likewise, other Countries are making offers for a Tariff reduction,” he noted. “All of this will help reduce our Trade Deficit in a very major way. A full report will be released at the appropriate time. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!”
Also Read: Countdown to US Tariffs Day: Who’s Struck a Deal With Donald Trump So Far?
Zubair Amin is a Senior Journalist at NewsX with over seven years of experience in reporting and editorial work. He has written for leading national and international publications, including Foreign Policy Magazine, Al Jazeera, The Economic Times, The Indian Express, The Wire, Article 14, Mongabay, News9, among others. His primary focus is on international affairs, with a strong interest in US politics and policy. He also writes on West Asia, Indian polity, and constitutional issues. Zubair tweets at zubaiyr.amin
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