Pakistan and the United States have taken a significant step forward in their ongoing efforts to resolve trade-related issues, particularly the reciprocal tariffs imposed by US President Donald Trump. A virtual meeting was held between Pakistan’s Finance Minister Muhammad Aurangzeb and the United States’ Commerce Secretary Howard Lutnick, focusing on enhancing trade and investment relations, according to a statement from the Ministry of Finance.
During the virtual meeting, both sides discussed strategies for deepening economic ties and agreed to continue their negotiations constructively, with the aim of finalizing a trade deal as soon as possible.
The discussions also highlighted the importance of further technical-level discussions in the coming days, which will be based on a mutually agreed roadmap.
The meeting comes after a tense period in which President Trump had imposed steep tariffs on imports from various countries, including Pakistan, sparking fears of a trade war. Although the 29% reciprocal tariffs are on hold until July, Pakistan has dispatched a trade delegation to Washington to negotiate better terms and reduce the trade imbalance.
As of 2024, the United States remains Pakistan’s largest export market, with annual exports exceeding $5 billion, while Pakistan’s imports from the US stand at around $2.1 billion.
In an interview with Bloomberg earlier, Finance Minister Aurangzeb expressed Pakistan’s intentions to increase its purchases from the US and remove non-tariff barriers, aiming to avoid the high tariffs imposed under Trump’s administration. Both countries are optimistic about resolving their trade differences and look forward to advancing negotiations for a successful resolution.
