PM Shehbaz Sharif reacts to Pakistan-US trade agreement, thanks Donald Trump: ‘Landmark deal'
'I wish to convey my profound thanks to President Trump for his leadership role in finalization of the historic US-Pakistan trade agreement, successfully concluded by our two sides in Washington, last night,' Shehbaz Sharif said in a post on X.
Calling it a 'landmark deal,' Sharif said it would boost bilateral cooperation and 'expand the frontiers of our enduring partnership in days to come.'
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
First Post
17 minutes ago
- First Post
Trump's 25% tariff on India could drag down GDP growth by 50-60 basis points, say analysts
US President Donald Trumps' 25% tariff on India could slash India's projected GDP growth by 50-60 basis points, dragging it below the 6%-mark. Currently, the Reserve Bank has projected the GDP growth for this year at 6.5%. read more US President Donald Trump and Prime Minister Narendra Modi shake hands as they attend a joint press conference at the White House in Washington, on, February 13. Reuters US President Donald Trump could deliver a hit of 50-60 basis points to the Indian GDP growth with tariffs and penalties, according to analysts. Trump on Thursday formally imposed 25 per cent tariff on India. He has also previously threatened additional penalties over India's trade with Russia. Previously, the Reserve Bank of India (RBI) had projected the Indian economy to grow at 6.5 per cent in 2025-26. The Union Finance Ministry had projected the economy to grow in the 6.3-6.8 per cent range. STORY CONTINUES BELOW THIS AD With Trump's 25 per cent tariff, and any additional penalties, the GDP growth could fall to 6.1 per cent and even below the 6 per cent-mark, as per analysts. Trump's tariff could slash GDP growth by 50-60 basis points, exports by 12.5% The State Bank of India (SBI) has said that a 20 per cent tariff could slash as much as 50 basis points (0.5 per cent) from India's GDP, according to CNBC-TV18. At 25 per cent tariff, this would mean a cut of around 62 basis points, dragging down India's GDP growth to around 5.87 per cent. The SBI study further said that any 1 per cent rise in tariff may lead to a 0.5 per cent decline in export volumes'. At 25 per cent tariff, this would mean 12.5 per cent decline in export volume. This could have massive implications for the Indian economy as the United States in India's largest export destination. Other analysts said that the tariff's effect could be in the range of 40-50 basis points. ANZ economists Dhiraj Nim and Sanjay Mathur said if 25 per cent tariff remained in place for the remainder of 2025-26, 'it could subtract 40 basis point from GDP growth', according to The Indian Express. Separately, Barclays has projected a hit of 30 basis points and Nomura has projected a hit of 20 basis points. 'Taking into account the sectoral exemptions, we estimate the effective tariff rate (for India) at ~20 per cent. The announced reciprocal tariff rate of 25 per cent, however, may be temporary, and might settle lower, as negotiations will continue after August 1. However, the best-case outcome would still be tariffs in the 15-20 per cent range, which is disappointing, considering India's more advanced stage of negotiations,' noted Nomura, as per Financial Express. STORY CONTINUES BELOW THIS AD
Hindustan Times
17 minutes ago
- Hindustan Times
Donald Trump says it's disgusting' what Russia is doing to Ukraine, amid strikes on Kyiv
US President Donald Trump threatened fresh sanctions Thursday while slamming Russia's military actions in Ukraine as "disgusting," as strikes on Kyiv killed at least 16 people. Washington has given Moscow until the end of next week to cease hostilities in Ukraine, under threat of severe economic sanctions.(AP) "Russia -- I think it's disgusting what they're doing. I think it's disgusting," Trump told reporters. Trump also said he would send his special envoy Steve Witkoff, currently in Israel, to visit Russia next. Russian President Vladimir Putin has already met Witkoff multiple times in Moscow, before Trump's efforts to mend ties with the Kremlin came to a grinding halt. Washington has given Moscow until the end of next week to cease hostilities in Ukraine, under threat of severe economic sanctions. Trump reiterated the deadline on Thursday. "We're going to put sanctions. I don't know that sanctions bother him," the US president said, referring to Putin. Trump has previously threatened that new measures could mean "secondary tariffs" targeting Russia's remaining trade partners, such as China and India. This would further stifle Russia, but would risk significant international disruption. The US president began his second term with his own rosy predictions that the war in Ukraine -- raging since Russia invaded its neighbor in February 2022 -- would soon end. In recent weeks, Trump has increasingly voiced frustration with Putin over Moscow's unrelenting offensive.
Indian Express
17 minutes ago
- Indian Express
US envoy arrives in Israel to monitor Gaza food distribution as humanitarian crisis worsens
US President Donald Trump's special envoy Steve Witkoff arrived in Israel on Thursday to discuss the worsening humanitarian situation in Gaza, as the death toll of Palestinians waiting for food and other aid continued to climb. Witkoff and US Ambassador Mike Huckabee will inspect food distribution in Gaza on Friday, the White House said. At least 91 Palestinians were killed and more than 600 wounded while attempting to get aid in the past 24 hours, the Gaza Health Ministry said Thursday. The victims included 54 people killed while awaiting food in northern Gaza near the Zikim crossing on Wednesday, the ministry said. The toll is expected to rise further as many of those killed or wounded were brought to isolated, undersupplied hospitals in northern Gaza and have not yet been counted. Israel's military said Palestinians surrounded aid trucks and the Israeli military fired warning shots into the crowd, but reported no awareness of injuries resulting from Israeli fire. A security official, who spoke on the condition of anonymity in line with military regulations, said the gunfire came from within the crowd and resulted from altercations between Palestinians attempting to access aid. Scramble for airdropped food Scenes of desperation and chaos played out again on Thursday as scores of Palestinians ran toward food aid dropped from the air in Zawaida, a city in central Gaza. Aid providers have turned to the skies as border crossings remain closed amid severe food insecurity across the Gaza Strip. The drops have set off stampedes and skirmishes as hungry crowds scream, fight and jostle for the parcels. Eslam al-Telbany, a displaced woman from Jabaliya, said she was carrying a bottle of cooking oil and a sack of flour when she was attacked and bitten, ultimately dropping the items and returning home without aid. 'I went and my children prayed that I'd return with food. They haven't eaten or drank anything for two days,' she said as she wept. Ahmed al-Khatib said someone stole a bag of flour from him, and he broke a tooth in the struggle. Rana Attia, another displaced woman, said people felt more dignified receiving text messages telling them where to collect aid rather than randomly chasing falling parcels under the scorching heat. 'We don't want them to help us that way,' she said. 'Worst-case scenario' Despite the airdrops, the amount of aid getting into Gaza remains far lower than the 500 to 600 trucks per day that aid organisationss say are needed. The Israeli defence body in charge of coordinating humanitarian aid in Gaza said 270 trucks of aid entered Gaza on Wednesday, and 32 pallets of aid were airdropped into the Strip. Under heavy international pressure, Israel announced a series of measures over the weekend to facilitate the entry of more international aid to Gaza. The international community has heaped criticism on Israel over the deteriorating humanitarian situation in Gaza. International organisations said that Gaza has been on the brink of famine for the past two years, but that recent developments, including a complete blockade on aid for 2 1/2 months, mean that the 'worst-case scenario of famine is currently playing out in Gaza.' Israel criticised by allies German Foreign Minister Johann Wadephul arrived in Israel on Thursday on a two-day trip that will also take him to the Israeli-occupied West Bank. Germany, traditionally a staunch ally of Israel, has been increasingly critical recently of Israel's actions in Gaza. It has insisted that Israel must do more to increase aid supplies and pushed for a ceasefire. Berlin hasn't joined major allies France, Britain, and Canada in saying it will recognise a Palestinian state in September. But in a statement ahead of his departure Thursday, Wadephul underlined Germany's position that a two-state solution is 'the only way' to ensure a future in peace and security for people on both sides. 'For Germany, the recognition of a Palestinian state stands rather at the end of the process. But such a process must begin now. Germany will not move from this aim,' Wadephul said. A diplomatic push Witkoff, Trump's special envoy, arrived in Israel on Thursday afternoon and met with Prime Minister Benjamin Netanyahu about the humanitarian situation and a possible ceasefire, according to an official who spoke on the condition of anonymity to discuss sensitive matters. It was the first meeting between Witkoff and Netanyahu since both Israel and the US called their negotiation teams home from Qatar one week ago. Witkoff said at the time that Hamas 'shows a lack of desire' to reach a truce. 'The fastest way to end the Humanitarian Crises in Gaza is for Hamas to SURRENDER AND RELEASE THE HOSTAGES!!!' Trump wrote on his Truth Social platform Thursday morning. Trump sent Witkoff to the region 'in an effort to save lives and end this crisis,' White House press secretary Karoline Leavitt said, calling the president 'a humanitarian with a big heart.' The war started when Hamas attacked southern Israel on October 7, 2023, killing around 1,200 people and abducting 251 others. They still hold 50 hostages, including around 20 believed to be alive. Most of the others have been released in ceasefires or other deals. Israel's retaliatory offensive has killed more than 60,000 Palestinians, according to Gaza's Health Ministry. Its count doesn't distinguish between militants and civilians. The ministry operates under the Hamas government. The UN and other international organisations see it as the most reliable source of data on casualties.
