US and Pakistan Speed Up Trade Deal Talks
Working Together on Tariff Agreements
Pakistan and the US have decided to speed up their talks on tariffs. They want to finish a trade deal soon. This will happen through more technical meetings, as reported by Radio Pakistan.
Important Virtual Meeting
On Monday, there was a virtual meeting. Pakistan’s Finance Minister, Muhammad Aurangzeb, and US Commerce Secretary, Howard Lutnick, led it. They talked about improving trade, investment, and economic relations.
What’s Next?
Both countries will have more technical talks. They will follow a plan that they both agreed on.
Worries and Changes
Pakistan is worried about a possible 29% tariff from the US on its exports. In April, President Donald Trump announced this to reduce the US trade deficit. Right now, Pakistan has a $3 billion trade surplus with the US.
At an event in Islamabad on Tuesday, Aurangzeb said the talks are going well. “Both countries are moving in the right direction,” he said.
Making Important Changes
The government is working on important changes. “We have also made changes to tariffs to become more competitive,” the minister said. He talked about improvements in taxes, energy, and other areas.
Good Conversations
Aurangzeb said his recent talk with the US Commerce Secretary was “good and positive.” Both sides want to improve their economic cooperation.
Important Points
- Pakistan and the US are speeding up tariff deal talks.
- More technical meetings will happen soon.
- Pakistan is worried about a possible 29% tariff on its exports.
- Pakistan has a $3 billion trade surplus with the US.
- Both countries are working on important changes.
- The recent talks were good and positive.
