AIRLINK 152.49 Decreased By ▼ -1.77 (-1.15%)
BOP 11.54 Increased By ▲ 0.62 (5.68%)
CNERGY 7.18 Decreased By ▼ -0.04 (-0.55%)
CPHL 92.60 Increased By ▲ 6.93 (8.09%)
FCCL 46.01 Increased By ▲ 0.76 (1.68%)
FFL 16.06 Increased By ▲ 0.30 (1.9%)
FLYNG 56.35 Decreased By ▼ -0.44 (-0.77%)
HUBC 138.69 Increased By ▲ 0.80 (0.58%)
HUMNL 12.68 Decreased By ▼ -0.03 (-0.24%)
KEL 5.13 Decreased By ▼ -0.06 (-1.16%)
KOSM 6.15 Decreased By ▼ -0.24 (-3.76%)
MLCF 83.98 Increased By ▲ 0.53 (0.64%)
OGDC 222.25 Increased By ▲ 0.68 (0.31%)
PACE 6.05 Decreased By ▼ -0.04 (-0.66%)
PAEL 41.13 Decreased By ▼ -0.03 (-0.07%)
PIAHCLA 21.37 Decreased By ▼ -0.15 (-0.7%)
PIBTL 8.76 Increased By ▲ 0.01 (0.11%)
POWER 13.90 Increased By ▲ 0.19 (1.39%)
PPL 170.90 Increased By ▲ 1.04 (0.61%)
PRL 34.00 Increased By ▲ 0.17 (0.5%)
PTC 24.94 Decreased By ▼ -0.60 (-2.35%)
SEARL 98.01 Increased By ▲ 8.91 (10%)
SSGC 44.85 Increased By ▲ 0.12 (0.27%)
SYM 15.35 Decreased By ▼ -0.26 (-1.67%)
TELE 8.00 Decreased By ▼ -0.24 (-2.91%)
TPLP 9.85 Decreased By ▼ -0.06 (-0.61%)
TRG 58.15 Decreased By ▼ -0.59 (-1%)
WAVESAPP 9.94 No Change ▼ 0.00 (0%)
WTL 1.61 Increased By ▲ 0.08 (5.23%)
YOUW 5.45 Decreased By ▼ -0.21 (-3.71%)
BR100 13,291 Increased By 222.3 (1.7%)
BR30 38,865 Increased By 318.8 (0.83%)
KSE100 130,344 Increased By 2144.6 (1.67%)
KSE30 39,908 Increased By 803.3 (2.05%)
Business & Finance

Reciprocal tariffs: Pakistan, US agree to wrap up negotiations next week

  • Finance Minister Muhammad Aurangzeb holds virtual meeting with US Commerce Secretary Howard Lutnick
Published June 25, 2025
Trump with chart of tariffs at the White House in Washington, D.C., U.S., April 2, 2025. REUTERS
Trump with chart of tariffs at the White House in Washington, D.C., U.S., April 2, 2025. REUTERS

Finance Minister Muhammad Aurangzeb and US Commerce Secretary Howard Lutnick have agreed to wrap up technical-level negotiations regarding reciprocal tariffs next week.

The development came during a virtual meeting between Aurangzeb and Lutnick on US reciprocal tariffs on Tuesday, read a statement released by the Finance Division on Wednesday.

“Both sides showed satisfaction on the ongoing negotiations and resolved to conclude the trade negotiations next week.

“It was also resolved that further to the trade agreement, a partnership, based on strategic and investment interests, would be concluded in due course covering areas of mutual interest,” read the statement.

During the meeting, the discussion focused on meaningful engagement in trade, investment and deepening economic ties mutually beneficial to both sides, with technical-level trade-related discussions to be concluded next week.

Both sides expressed confidence in concluding trade negotiations at the earliest, it added.

Back in April, Trump ignited a potentially ruinous trade war as he slapped sweeping tariffs on imports from around the world and harsh additional levies on key trading partners, including Pakistan.

Islamabad is attempting to appease the US to seek reprieve from the 29% reciprocal tariffs imposed by President Donald Trump. While those levies are on hold until July, Pakistan has sent a trade delegation to Washington to bridge the trade gap.

The US is Pakistan’s largest export market with over $5 billion in annual exports as of 2024, while Pakistan’s imports from the US are about $2.1 billion.

Earlier, Muhammad Aurangzeb, in an interview with Bloomberg, said Pakistan is looking to buy more goods from the US and remove non-tariff barriers to escape Trump’s high tariffs.

Comments

200 characters
OSZAR »