Pakistan-US trade talks in final stretch
WASHINGTON: With just a week remaining before the July 9 tariff deadline, Pakistan and the United States have entered the final stretch of crucial trade negotiations that could determine the future of Pakistan's key export sectors.
A Pakistani delegation, headed by Commerce Secretary Jawad Paal, reached Washington this week, hoping to secure a long-term reciprocal tariff agreement that would avert the reimposition of a 29 per cent US tariff on Pakistani exports — primarily textiles and agricultural products. The tariff relief was temporarily paused earlier this year, but a final decision hinges on the outcome of the ongoing talks.
US Treasury Secretary Scott Bessent has indicated that Washington may allow limited flexibility on the deadline if meaningful progress is visible, potentially pushing the cutoff toward Labour Day. However, Pakistani officials say they are working to complete the deal this week to remove any uncertainty for exporters and investors.
The proposed framework includes increased Pakistani imports of US goods — particularly crude oil — alongside incentives for American investment in Pakistan's mining, infrastructure, and energy sectors. Key projects under discussion include the Reko Diq copper-gold mine and associated energy infrastructure. The agreement is also expected to pave the way for greater engagement through the US Export-Import Bank.
Pakistani negotiators are optimistic that a deal can be finalised this week, ensuring continued access to the US market. - Dawn/ANN
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