Shehbaz Sharif Hails U.S. Role in New Trade Pact
Pakistan Prime Minister Shehbaz Sharif expressed profound thanks to U.S. President Donald Trump for his “leadership role” in finalizing a historic trade agreement between Pakistan and the United States. The deal was announced in Washington late on July 30.
Deal Centers on Oil Reserves and Tariff Relief
President Trump said the U.S. and Pakistan will partner to develop Pakistan’s oil reserves, calling them “massive,” though Pakistan has yet to begin extraction. Pakistani officials confirmed the agreement also includes plans for reciprocal tariff reduction, particularly benefitting Pakistani exports to the U.S.
Investment and Sector Cooperation Included
The pact is expected to expand collaboration in areas such as energy, infrastructure, minerals, IT, and related industries. It aims to attract U.S. investment into key Pakistani sectors and improve market access for Pakistani goods.
Deals Contrast with India Trade Tensions
The Pakistan agreement comes just days after the U.S. imposed 25% tariffs on Indian goods, citing India’s trade practices and ties with Russia. The two trade frameworks highlight the current divergence in U.S. economic engagement with South Asian partners.
Strategic Significance and Next Steps
Sharif called the treaty a step toward strengthening the bilateral partnership and hoped it would “expand the frontiers” of cooperation. Pakistani and U.S. officials said a more detailed report on implementation and investment commitments will follow. The deal came after intensive negotiations led by Pakistan’s Finance Minister and U.S. trade leaders in Washington.
