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Mint
11 minutes ago
- Mint
Trump announces US-Pakistan deal to develop ‘massive' oil reserves, talks tariff relief for allies
US President Donald Trump announced on Truth Social that the United States has reached a deal with Pakistan to jointly develop the country's 'massive oil reserves,' in what he described as a major energy partnership. 'We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive Oil Reserves,' Trump wrote on Tuesday. According to Trump, the partnership is still in the early stages, with a leading oil company yet to be selected. 'We are in the process of choosing the Oil Company that will lead this Partnership,' he stated, offering no further details about which firms are under consideration or the terms of the agreement. In a notable aside, Trump floated the possibility of expanded regional trade: 'Who knows, maybe they'll be selling Oil to India some day!' While the post did not include any specifics on timelines or scale, it marks a rare public statement on prospective US-Pakistan energy collaboration. Trump also claimed the White House was actively engaged in trade negotiations with multiple countries on Tuesday. 'We are very busy in the White House today working on Trade Deals,' he wrote, suggesting that a flurry of international outreach was underway. Trump mentioned an upcoming meeting with a South Korean trade delegation, noting the country currently faces a 25% tariff. 'South Korea is right now at a 25% Tariff, but they have an offer to buy down those Tariffs,' he stated. 'I will be interested in hearing what that offer is,' suggesting openness to a potential tariff rollback, contingent on concessions from Seoul. According to Trump, other unnamed countries have also signaled interest in negotiating lower tariffs. 'Likewise, other Countries are making offers for a Tariff reduction,' he wrote, arguing that such deals 'will help reduce our Trade Deficit in a very major way.' Trump concluded by saying, 'A full report will be released at the appropriate time,' suggesting more details may follow on the proposed trade shifts.
Hindustan Times
41 minutes ago
- Hindustan Times
Donald Trump says US to help Pakistan develop ‘massive' oil reserves
United States President Donald Trump said on Wednesday (local time) that they have concluded a deal with Pakistan to help develop the latter's 'massive' oil reserves and added that they are yet to choose which company will lead this partnership. Hours after slapping 25 percent tariffs on India, US President Donald Trump said on Wednesday that talks are still going on between the two countries. (AP) Trump also remarked that maybe, Pakistan will be selling oil to India some day. The US President made the announcement through a post on his social media platform Truth Social. This announcement about the US' deal with Pakistan comes right after he announced 25% tariffs on India on Wednesday, along with an unspecified penalty for buying oil from Russia. Also read: Donald Trump announces 25% tariff, plus a penalty on India from Aug 1 'We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive Oil Reserves. We are in the process of choosing the Oil Company that will lead this Partnership. Who knows, maybe they'll be selling Oil to India some day!' he wrote. 'Busy day at White House' In the same post, Trump also wrote that he has spoken to leaders of several countries who want to make the US 'extremely happy'. He said that several countries are making offers to the US for tariff reductions which, according to him, will reduce the country's 'trade deficit' massively. 'We are very busy in the White House today working on Trade Deals. I have spoken to the Leaders of many Countries, all of whom want to make the United States 'extremely happy.' I will be meeting with the South Korean Trade Delegation this afternoon. South Korea is right now at a 25% Tariff, but they have an offer to buy down those Tariffs. I will be interested in hearing what that offer is,' Trump wrote. Also read: 'Partially BRICS, partially trade': Trump after slapping 25% tariffs on India 'Likewise, other Countries are making offers for a Tariff reduction. All of this will help reduce our Trade Deficit in a very major way. A full report will be released at the appropriate time. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!,' he added. Negotiations with India still on Hours after slapping 25 percent tariffs on India, Trump said on Wednesday that talks are still going on and things will be clearer by the 'end of this week'. He also expressed his displeasure with India being a part of the BRICS, a group of 11 emerging economies, which he termed as anti-United States. 'Well, we are negotiating right now and it's also BRICS. BRICS, which is basically a group of countries that are anti the United States and India is a member of that if you can believe is an attack on the dollar and we are not going to let anybody attack the dollar. So it's partially BRICS and it's partially trade,' he said while responding to a reporter.
Economic Times
an hour ago
- Economic Times
‘Won't let anyone attack the dollar': Trump says US in talks with India after 25% tariff bombshell
US President Donald Trump said that the United States is negotiating with India after announcing a sweeping 25% tariff on Indian imports starting August 1. Speaking to reporters, Trump said India has 'one of the highest tariffs in the world,' but signalled that New Delhi may be willing to 'substantially reduce tariffs' as talks continue. Show more 01:45 10:53 02:27 09:12 05:20 03:27 03:01 08:33 03:13 11:00 04:25 11:07 05:01 03:17 02:18 02:12 01:38 06:44 01:38 02:09 10:01 09:08 06:02 01:14 02:43 02:11 03:39 08:26 14:38 06:10
