Latest news with #Pakistan-US
Express Tribune
2 days ago
- Business
- Express Tribune
Pak expects breakthrough in US tariff talks
A delegation led by Finance Minister Muhammad Aurangzeb held a meeting with US Secretary of Commerce Howard Lutnick and United States Trade Representative Ambassador Jamieson Greer in Washington DC om Friday. Photo Express A delegation led by Finance Minister Muhammad Aurangzeb held a productive meeting with US Secretary of Commerce Howard Lutnick and United States Trade Representative Ambassador Jamieson Greer in Washington DC om Friday. Both sides expressed satisfaction with the progress in enhancing trade and economic ties, a cornerstone of Pakistan-US bilateral relations. They reaffirmed their commitment to exploring opportunities to strengthen these ties in all possible areas of mutual benefit. Aurangzeb emphasized that the US remains Pakistan's largest trading partner and underscored Pakistan's interest in expanding cooperation in both traditional and non-traditional sectors, including IT and tech sector, minerals, and agriculture, to foster a mutually beneficial relationship. Both parties expressed optimism that ongoing trade talks would yield positive outcomes, benefiting the economies of both countries.
Deccan Herald
2 days ago
- Business
- Deccan Herald
Pakistan finance minister meets US officials for trade talks
"Both sides expressed satisfaction with the progress in enhancing trade and economic ties, a cornerstone of Pakistan-US bilateral relations," Pakistan's finance ministry said in a statement.
India Today
2 days ago
- Business
- India Today
Pakistan finance minister meets US officials to advance trade negotiations
Pakistan's Finance Minister Muhammad Aurangzeb held productive trade talks with US officials in Washington on Friday, meeting with Commerce Secretary Howard Lutnick and US Trade Representative Ambassador Jamieson Greer to resume bilateral discussions."Both sides expressed satisfaction with the progress in enhancing trade and economic ties, a cornerstone of Pakistan-US bilateral relations," Pakistan's finance ministry said in a statement said Aurangzeb emphasised that the US remained Pakistan's largest trading partner. Both sides expressed optimism that ongoing trade talks would yield positive outcomes, benefiting the economies of both countries, the finance ministry Pakistan faces a 29% tariff on exports to the US under President Donald Trump's measures to target countries with large trade surpluses with the US Pakistan's surplus will be around $3 billion in was optimistic that the trade talks would conclude in a week's time after a virtual meeting between Aurangzeb and Lutnick late last to Reuters, the talks followed an earlier submission by a Pakistani delegation outlining a comprehensive list of US demands, including reductions in both tariff and non-tariff trade Islamabad initially hoped to finalise the deal by early July, sources familiar with the matter say negotiations are taking longer than expected due to the complexity of the requirements. Islamabad has already offered to import more US goods, including crude oil, and to open up investment opportunities through concessions for US firms in Pakistan's mining relations saw a major boost when Trump hosted Pakistan's army chief Field Marshal Asim Munir, at the White House last month in an unprecedented meeting.- EndsMust Watch
Express Tribune
2 days ago
- Business
- Express Tribune
Pakistan, US aim to boost trade ties with focus on IT, minerals, and agriculture
Finance Minister Muhammad Aurangzeb shakes hands with US Secretary of Commerce Howard Lutnick during a meeting in Washington on Friday, July 18, 2025. Photo: Ministry of Finance Listen to article Pakistan and the United States agreed to enhance trade and economic cooperation to foster a mutually beneficial partnership, following a high-level meeting between Finance Minister Muhammad Aurangzeb and US Secretary of Commerce Howard Lutnick on Friday, the finance ministry said. According to a statement, the Pakistani delegation also met with United States Trade Representative (USTR) Ambassador Jamieson Greer in Washington, DC. The discussions focused on advancing economic engagement, expanding market access, and identifying new avenues for collaboration. Both sides expressed satisfaction over the progress made in bilateral trade relations — a key pillar of Pakistan-US ties — and reaffirmed their commitment to explore opportunities in traditional and emerging sectors. Finance Minister Muhammad Aurangzeb meets US Secretary of Commerce Howard Lutnick and US Trade Representative Ambassador Jamieson Greer in Washington on Friday, July 18, 2025. Photo: Ministry of Finance Aurangzeb stated that the United States remains Pakistan's largest trading partner, noting Islamabad's interest in expanding cooperation in sectors such as information technology, minerals, and agriculture. He said the aim was to diversify trade and investment in ways that serve the economic interests of both nations. The two sides expressed optimism that ongoing trade talks would result in positive outcomes, with technical-level discussions scheduled to conclude in the coming week. Relations between Islamabad and the Trump administration have seen a notable upswing in recent months, particularly after the US intervened to mediate a ceasefire between Pakistan and India following a four-day conflict in May. In what observers described as an unprecedented diplomatic gesture, President Trump hosted Chief of Army Staff Field Marshal Asim Munir at the White House last month. During a luncheon in his honour, Trump acknowledged the army chief's role in de-escalating tensions with India. Also Read: Business community divided over strike call for Saturday Last month, Aurangzeb and Lutnick also held a virtual meeting that focused on reciprocal tariffs — part of broader efforts to recalibrate economic ties amid shifting geopolitical dynamics. Pakistan is seeking relief from the steep tariffs imposed under President Trump's trade policies, particularly a 29 per cent duty on Pakistani exports to the US. To offset the trade imbalance — Pakistan registered a $3 billion trade surplus with the US in 2024 — Islamabad has offered to increase imports of US goods, including crude oil, and to provide investment incentives in its mining sector. In a parallel development, the US Export-Import Bank is currently reviewing financing proposals ranging from $500 million to $1 billion for investment in Pakistan's mineral wealth, notably the $7 billion Reko Diq copper-gold project. The two countries also co-hosted a webinar to promote US investment in Pakistan's minerals sector. The event highlighted opportunities in large-scale extractive projects, including Reko Diq.
Business Recorder
2 days ago
- Business
- Business Recorder
Finance minister Aurangzeb meets US officials for trade talks
Pakistan said it held productive trade talks with the US in Washington on Friday after a meeting between Finance Minister Muhammad Aurangzeb, US Commerce Secretary Howard Lutnick and US Trade Representative Ambassador Jamieson Greer. Pakistan, US move closer to securing trade deal as tariff talks continue 'Both sides expressed satisfaction with the progress in enhancing trade and economic ties, a cornerstone of Pakistan-US bilateral relations,' Pakistan's finance ministry said in a statement.
