Pakistan’s Foreign Minister Discusses Trade Negotiations with the US
Pakistan’s Foreign Minister, Ishaq Dar, mentioned that the country is “very close” to finalizing a tariff agreement with the United States, ahead of the August 1 deadline for the stipulated taxation changes.
In a meeting with Secretary of State Marco Rubio, Dar expressed optimism, suggesting that the deal could be wrapped up in just a few days. He noted that the Trump administration is eager to finalize this agreement before the impending deadline.
“I think we’re very close to finalizing our deal with the US,” Dar stated during his appearance at the Atlantic Council think tank. He elaborated that the negotiation team is currently in Washington, conducting virtual meetings and making adjustments on directives from the Prime Minister.
He emphasized, “It’s not going to take months or weeks; I’ll say just days.” Since Trump introduced his “liberation day” tariffs, Pakistan has been navigating negotiations with the US to reach swift agreements.
Trump has previously agreed to delay the implementation of many tariff rates, with the most recent extension set for August 1, providing more time for talks to progress.
To date, he has firmed up tariff agreements with countries like the UK, Vietnam, Japan, Indonesia, and the Philippines. Additionally, there is a tariff ceasefire in effect with China, which has a deadline of August 12, aiming for a broader agreement.
Currently, Trump has established a baseline tariff rate of 10% on nearly all imports, alongside various tariffs, including a 25% tariff on automobile, aluminum, and steel imports, as well as another 25% on goods from Canada and Mexico that do not comply with the US-Mexico-Canada agreement.
Last year, US trade with Pakistan amounted to around $7.3 billion, as reported by the US Trade Representative.
Both the State Department and Pakistani officials confirmed that discussions are ongoing regarding trade matters; however, no specifics about the timeline for finalizing the deal have been provided.
The State Department has not yet responded to inquiries for further comments.
Earlier this year, tensions erupted between India and Pakistan following terrorist attacks near Jammu and Kashmir, leading to missile launches. Pakistan responded cautiously, reflecting the long-standing disputes over Kashmir between the two nuclear-armed nations, raising concerns about potential escalations.
A ceasefire was established in May, and since then, Trump has gained public recognition for his efforts in mediating the ongoing conflict. Recently, Pakistan announced its intention to nominate Trump for the Nobel Peace Prize, citing his “decisive diplomatic intervention” amid the tensions with India.
