Trade talks: US, Pakistan agree to fast-track reciprocal tariff deal, technical roadmap discussions to follow
Pakistan and the United States have agreed to intensify negotiations on reciprocal tariffs with the aim of finalising a bilateral trade deal through continued technical engagement, according to Radio Pakistan.
The agreement was reached during a virtual meeting on Monday between Pakistan's Finance Minister Muhammad Aurangzeb and US Commerce Secretary Howard Lutnick, where the two sides discussed deepening trade and investment ties and strengthening the broader economic relationship, PTI reported.
'Both sides also agreed that further technical-level discussions would take place in the coming days, following a mutually agreed roadmap,' Radio Pakistan reported on Tuesday.
The renewed push comes amid concerns in Islamabad over the 29% tariff that the US may impose on Pakistani exports. In April, President Donald Trump announced the measure as part of a broader plan to reduce America's trade deficit with various partners. Currently, Pakistan enjoys a $3 billion trade surplus with the US.
Speaking at an event in Islamabad on Tuesday, Aurangzeb confirmed that momentum in the bilateral dialogue was building.
by Taboola
by Taboola
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'Both countries are moving in the right direction,' he said.
He added that the government was committed to staying on course with structural reforms. 'We have also carried out tariff reforms to move towards a competitive economy,' the minister said, highlighting efforts in taxation, energy, and other sectors.
Aurangzeb described his latest exchange with the US Commerce Secretary as 'constructive and positive,' and said both sides were aligned on enhancing strategic economic cooperation.
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