Lower US tariffs to aid Pakistan's exports, says govt
'The Government of Pakistan is pleased to announce the successful conclusion of tariff-related discussions with the United States,' read a statement released by the Ministry of Finance.
As per the outcome of these talks, a tariff of 19% will be applicable for Pakistani exports to the US market, which is significantly lower than the initially proposed 29%.
On Thursday, US President Donald Trump announced new tariffs of up to 41% on goods imported from dozens of countries, including Pakistan, citing persistent trade imbalances and a lack of reciprocity in bilateral trade relationships.
'This decision reflects a balanced and forward-looking approach by the US authorities, keeping Pakistan competitive relative to other South and Southeast Asian countries. In particular, this tariff level is expected to support Pakistan's export potential, especially in key sectors such as textiles, which remain the backbone of the country's export economy,' read the statement.
The finance minister said that it remains in close coordination with relevant stakeholders, and believes that the current tariff arrangement presents a significant opportunity to expand Pakistan's footprint in the US market.
'It is now essential for Pakistani exporters and trade bodies to adopt an aggressive and focused marketing strategy to capitalise on this development,' it said.
The ministry said it believed that in addition to textiles, there is substantial potential for growth in other sectors. 'The government is committed to facilitating exporters through policy support, market intelligence, and trade promotion initiatives,' it said.
According to the statement, the Pakistani government seeks close cooperation with the United States in the areas of investment, artificial intelligence, cryptocurrency, mines & minerals, energy, and other emerging sectors.
'Pakistan will continue to engage closely with President Trump and the US administration to promote the shared goals of economic development and mutual prosperity,' it concluded.
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