Pakistan says it held productive trade talks in Washington
ISLAMABAD (Reuters) -Pakistan said it held productive trade talks with the U.S. in Washington on Friday to advance economic cooperation, according to a statement from the South Asian country's finance ministry.
Finance Minister Muhammad Aurangzeb met U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Ambassador Jamieson Greer, the statement said.
"Both sides expressed satisfaction with the progress in enhancing trade and economic ties, a cornerstone of Pakistan-U.S. bilateral relations," the statement added.
It said Aurangzeb emphasized that the U.S. 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 said.
Pakistan was optimistic that the trade talks would conclude in a week's time after a virtual meeting between Aurangzeb and Lutnick late last month.
The negotiations, focused on reciprocal tariffs, are part of a broader push to reset economic ties at a time of shifting geopolitical alignments and Pakistan's efforts to avoid steep U.S. duties on exports.
Pakistan faces a 29% tariff on exports to the U.S. under President Donald Trump's measures to target countries with large trade surpluses with the U.S.
Pakistan's surplus was around $3 billion in 2024.
To offset the imbalance and ease tariff pressures, Islamabad has offered to import more U.S. goods, including crude oil, and to open up investment opportunities through concessions for U.S. firms in Pakistan's mining sector.
U.S.-Pakistan 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.
Solve the daily Crossword
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
2 minutes ago
- Yahoo
Wine producers in Italy's Valpolicella brace for US tariffs
By Oriana Boselli NEGRAR, Italy (Reuters) -Italy's wine producers, already struggling amid a slowing economy and a strengthening euro, face a further challenge after wine and spirits were left out of the U.S.-EU trade deal agreed on Sunday. Discussions are continuing regarding any tariff exemptions for the wines and spirits sectors in the framework trade deal, a senior European Commission official said on Monday, a day after the U.S. and EU agreed a 15% tariff on U.S. imports of most other goods from the European Union. Producers in the winemaking region of Valpolicella, in northern Italy, warn that on the top of any new tariff, their exports will be impacted by the depreciating dollar, which has lost more than 12% against the euro this year, making European goods more expensive for U.S. consumers. "This is already pretty bad," said Andrea Sartori of the Sartori winery in Negrar di Valpolicella, founded in 1898. "I'm very worried about the economy overall. And we all know that wine consumption doesn't thrive very well when we have seen economic crises in the past," Sartori told Reuters. "So this could be a domino effect that could hit the wine trade as well." The United States is the biggest export market for Italy's wine and spirits producers, generating sales of 2 billion euros ($2.3 billion) last year, or a quarter of their global sales, according to industry group Federvini. Lamberto Frescobaldi, president of Italian wine producer association UIV, said on Sunday that 15% tariffs on wine would result in a loss of 317 million euros ($372.63 million) over the next 12 months. Wine producers are already facing subdued domestic demand, with the Italian economy forecast to grow just 0.6% this year, according to national statistics bureau ISTAT, although premium wines are set to do better as deeper-pocketed consumers are less price sensitive. They include Valpolicella's top end Amarone wine. "Amarone is the least sensitive because it's already a premium wine with a pretty high price. So I don't think it would be a dramatic change," Sartori said. "I'm more worried about Valpolicella and Ripasso, which are mainstream, and a price increase could possibly damage the sales," he added (Additional reporting by Alex Fraser; Editing by Giselda Vagnoni and Susan Fenton)
Yahoo
2 minutes ago
- Yahoo
Why Nice Stock Popped Today
Key Points Nice acquired conversational and agentic artificial intelligence specialist Cognigy for $955 million. The two AI leaders combine to form a powerhouse in the customer experience niche. With Nice's AI-related and self-service sales already growing by 39% prior to the deal, the company is launching full-speed ahead into today's most important technology. 10 stocks we like better than Nice › Shares of enterprise software leader Nice (NASDAQ: NICE) rose 6% as of noon ET on Monday, according to data provided by S&P Global Market Intelligence. True to its artificial intelligence (AI) focus, Nice acquired agentic AI specialist Cognigy for $955 million this morning. This acquisition prompted a positive reaction from the market, and I think it is deserved. Nice: AI innovator, not disruptee Back in June, I wrote about Nice as a potential once-in-a-decade opportunity. At the end of the article, I explained, "It'll be of the utmost importance to keep an eye on Nice's AI sales in each quarterly update and ensure the company remains the AI innovator, not the disruptee." Acquiring Cognigy today, Nice reinforced its chances of remaining an AI innovator, rather than a disruptee. By adding Cognigy, Nice added new conversational and agentic capabilities to its customer experience platform, which accounts for 75% of its sales. The Cognigy AI platform offers its services in over 100 languages and serves more than 1,000 brands, including Adidas, Toyota Motor, and Nestle. Despite its start-up nature, Cognigy was already recognized as a leader in conversational AI according to rankings from Gartner Magic Quadrant and Forrester Wave reports. With Nice itself already counting 85 Fortune 100 companies as customers, this union creates an AI powerhouse in the realms of contact centers as a service and customer engagement in general. In the first quarter of this year, Nice grew its AI-related and self-service sales by 39%. Adding Cognigy's AI capabilities, client list, and cross-selling potential should only add fuel to this fire. Even after today's pop, Nice still trades at just 15 times free cash flow. This discounted valuation, paired with Cognigy's addition, keeps Nice a once-in-a-decade opportunity in my eyes. Should you invest $1,000 in Nice right now? Before you buy stock in Nice, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nice wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $636,628!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,063,471!* Now, it's worth noting Stock Advisor's total average return is 1,041% — a market-crushing outperformance compared to 183% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 28, 2025 Josh Kohn-Lindquist has positions in Adidas Ag. The Motley Fool has positions in and recommends Nice. The Motley Fool recommends Gartner and Nestlé. The Motley Fool has a disclosure policy. Why Nice Stock Popped Today was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
2 minutes ago
- Yahoo
Nedia Fiber and Birla Cable Ltd. Form Exclusive Strategic Alliance to Boost Optical Fiber Cable Supply across the Americas
ASHBURN, Va., July 28, 2025--(BUSINESS WIRE)--Nedia Fiber, a U.S.-based optical fiber cable supplier, and Birla Cable Ltd., a publicly listed global leader in fiber optic cable manufacturing, have formed a strategic alliance to accelerate the delivery of high-performance fiber optic solutions across the Americas. This alliance aims to reduce lead times, and meet growing telecom and broadband infrastructure needs across the region. Nedia Fiber brings decades of expertise and understanding of the American market. With a focus on speed, responsiveness, and execution, the company is positioning itself as a leading supplier for ISPs, Telcos, and EPCs across the Americas. Birla Cable Ltd., part of the esteemed M.P. Birla Group, is one of India's most respected fiber optic manufacturers, offering a portfolio of fiber and cable products supported by cutting-edge production facilities and global certifications. "We are excited to launch this important alliance with Birla Cable Ltd., a company known worldwide for its manufacturing strength and product excellence," said Mr. Siby Pothen, President of Nedia Fiber. "Together, we are building a responsive supply model that aligns with the infrastructure needs of our customers across the Americas." "This important alliance is a key step in our global growth strategy," said Mr. R. Sridharan, CEO of Birla Cable Ltd. "Working with Nedia Fiber gives us direct access to the American market, backed by a team that understands how to move quickly, serve locally, and scale effectively." Mr. Luiz Fuschini, COO of Nedia Fiber, added: "Our alliance with Birla Cable is about execution. We are enabling the market with inventory flowing into the U.S. and strategic locations in South America. With a committed supply chain, we are ready to support projects with speed, precision, and trust. This is a bold step forward for both companies and for the industry across the Americas." About Nedia Fiber Nedia Fiber provides agile, customer-focused optical fiber cable supply solutions throughout the Americas. The company delivers fiber solutions with speed, technical support, and reliable execution. About Birla Cable Ltd. Birla Cable Ltd., part of the M.P. Birla Group, is a leading Indian manufacturer of optical fiber and cables. Publicly listed and globally recognized, operates with its state-of-the-art production facilities and a commitment to technological innovation and product excellence. View source version on Contacts Media Contact:pr@ / info@ +1 (571) 223-0200 / +91 22 4126 8855
