LAHORE – According to reports, Pakistani negotiators are set to return to their homeland successfully, having reached a consensus on a tariff framework that aims at preventing the re-imposition of a 29% duty fee on Pakistani exports. the main industries that will benefit include textiles and agriculture. The expected time of the announcement is after the U.S. concludes talks with its other trading partners.
The deadline that was given to the negotiators was July 9, and they have successfully concluded the talks before the set date and are set to return on Friday. If no agreement was reached, the previously suspended tariffs would’ve been reimposed.
The understanding encompasses a long-term mutual tariff agreement and highlights potential US investments in Pakistan’s mining, energy, and infrastructure sectors. The discussions particularly focused on the Reko Diq copper-gold project and the associated energy infrastructure.
It is also expected that the deal might benefit Pakistani imports of U.S. goods, specifically crude oil, and further enhance engagement with US Export-Import Bank.
In spite of previously shown flexibility by the U.S. Department of the Treasury’s Secretary Scott Bessent, Pakistan remained persistent in pushing for an early conclusion to the tariffs deal to provide further clarity to exporters and investors. According to officials, the deal might’ve been made to sustain market access and reset previously strained trade relationships impacted by the tariff measures introduced during the Trump administration.
