Latest news with #JamiesonGreer
CTV News
a day ago
- Business
- CTV News
Trump says big trade deals to be announced soon
U.S. President Donald Trump listens with U.S. Trade Representative Jamieson Greer, right, during a lunch with African leaders at the White House in Washington on July 9, 2025. (Evan Vucci / AP Photo) WASHINGTON - U.S. President Donald Trump said on Friday the U.S. government has some 'big' trade deals to announce soon. 'When I send out the paper that you're paying 35 per cent or 40 per cent tariffs, that's a deal,' he said at the signing of a bill to create a regulatory framework for U.S.-dollar-pegged cryptocurrency tokens, or so-called 'stablecoins.' 'Then they'll call and see if they can make a little bit different kind of a deal, like opening up their country to trade.' (Reporting by Andrea Shalal, writing by Maiya Keidan)
Arab News
a day ago
- Business
- Arab News
Pakistan, US hold new round of trade talks amid tariff tensions, eye wider cooperation
KARACHI: Pakistan and the United States explored ways to broaden their trade partnership beyond textiles, a statement released in Islamabad said on Friday, as their officials held high-level talks in Washington to finalize a trade deal and address recently imposed US tariffs. The meeting between Pakistan's Finance Minister Muhammad Aurangzeb, US Commerce Secretary Howard Lutnick and US Trade Representative Jamieson Greer followed a virtual discussion between Aurangzeb and Lutnick last month, during which both sides agreed to push negotiations forward 'at the earliest.' The talks come after the US imposed a 29 percent 'reciprocal tariff' on Pakistani exports under President Donald Trump's trade measures announced in April, a move Islamabad said could undercut its fragile, export-led recovery. 'Finance Minister Aurangzeb emphasized that the US remains Pakistan's largest trading partner and underscored Pakistan's interest in expanding cooperation in both traditional and non-traditional sectors, including the IT & tech sector, minerals and agriculture, to foster a mutually beneficial relationship,' Pakistan's finance ministry said in a statement. It added officials from both countries were pleased with the progress made so far in deepening trade and economic relations, which they described as a key pillar of the broader Pakistan-US partnership. They reaffirmed their shared commitment to finding new ways to strengthen cooperation across all areas where both countries stand to benefit. Nearly 90 percent of Pakistan's exports to the US are textiles, a sector that is most vulnerable to the duties. The US is Pakistan's top export destination, with shipments totaling $5.44 billion in FY2024. From July 2024 to February 2025, exports rose 10 percent compared to the same period a year earlier. Pakistan is also seeking to diversify its trade destinations and export base to mitigate risks related to its international trade. 'Both parties expressed optimism that ongoing trade talks would yield positive outcomes, benefiting the economies of both countries,' the ministry said in its statement.
Yahoo
a day ago
- Business
- Yahoo
Pakistan says it held productive trade talks in Washington
By Asif Shahzad 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
Reuters
a day ago
- Business
- Reuters
Pakistan says it held productive trade talks in Washington
ISLAMABAD, July 18 (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.
Telegraph
2 days ago
- Business
- Telegraph
Britain's trade tsar will pressure Trump to slash tariffs on US trip
Britain's business secretary will put pressure on the White House to slash the blanket 10 per cent tax slapped on UK imports during a visit to Washington DC. Jonathan Reynolds intends to discuss sectoral tariffs and ways to drive down Mr Trump's tariffs when he meets with Howard Lutnick, the US commerce secretary, and trade representative Jamieson Greer, sources told Politico. In May, the UK became the first country to secure a trade deal with the Trump administration, which provided tariff relief for car imports and the British Aerospace industry. However, most UK goods imported to the US remain subject to Mr Trump's 10 per cent blanket reciprocal tariffs announced on his self-dubbed 'liberation day', and no deal was reached on the steel, film or pharmaceutical industries, triggering alarm among business executives. Mr Reynolds plans to spend four to five days in Washington in the final week of July, a source told Politico. The trip falls around the time that Mr Trump is planning to meet Sir Keir Starmer during a private visit to Scotland, where the US president said he expects trade talks. 'We are going to have a meeting with him, probably in Aberdeen. And we're going to do a lot of different things, also refine the trade deal that we've made,' he said on Monday. Peter Mandelson, the British ambassador to Washington, warned last weekend that the 10 per cent tariffs are 'here to stay' despite UK pushback. Under the terms of the current agreement, tariff rates on imports of British cars to the US fell to 10 per cent, down from 27.5 per cent, for up to 100,000 vehicles a year. The British aerospace sector was also spared from Mr Trump's 10 per cent tariff. Last month, Mr Reynolds said he has 'no doubt' that the US will lower 25 per cent tariffs on British steel and aluminium imports, which are yet to kick in. A White House source said Howard Lutnick, the US commerce secretary, would determine a quota of steel and aluminium products that could enter the US without being subject to the 25 per cent tariff. Uncertainty still hangs over drug makers amid Mr Trump's demands for them to move factories to the US. The US president said on Tuesday he would impose tariffs on pharmaceutical imports 'probably at the end of the month', adding: 'We're going to start off with a low tariff and give the pharmaceutical companies a year or so to build, and then we're going to make it a very high tariff.'
