Latest news with #JawadPaal
The Hindu
2 days ago
- Business
- The Hindu
Pakistan, U.S. conclude critical round of trade negotiations
Pakistan and the U.S. have concluded a critical round of trade negotiations, reaching an understanding on a deal that could shape the future of the country's key export sectors, a media report said on Saturday. While both sides have reached an understanding, a formal announcement is expected only after the U.S. concludes similar ongoing negotiations with other trade partners, Dawn News reported. The understanding was reached with less than a week before the July 9 deadline to conclude the talks in Washington, where Commerce Secretary Jawad Paal led the Pakistan delegation to finalise a long-term reciprocal tariff agreement that would prevent the re-imposition of a 29% tariff on Pakistani exports, primarily textiles and agricultural products. The tariff relief, temporarily paused earlier this year, was at risk of expiring if no progress had been made by July 9. Officials familiar with the negotiations said the four-day talks were successful, with both sides agreeing to a broad framework. Increased Pakistani imports The agreement, when signed, could lead to increased Pakistani imports of U.S. goods — notably crude oil — and potential American investment in Pakistan's mining, energy, and infrastructure sectors. Projects like the Reko Diq copper and gold mine and related energy infrastructure were a focus of the discussions. The deal could also pave the way for expanded engagement through the U.S. Export-Import Bank. Although U.S. Treasury Secretary Scott Bessent earlier indicated that Washington might allow limited flexibility on the deadline if meaningful progress was evident, Pakistani officials said they pushed for an early conclusion of negotiations to remove uncertainty for exporters and investors. Officials remain optimistic that the agreement will sustain Pakistan's access to the US market and help reset bilateral economic ties under strain since the high tariffs were introduced during the Trump administration, according to the report.
Time of India
3 days ago
- Business
- Time of India
Pakistan, US conclude critical round of trade negotiations
Pakistan and the US have concluded a critical round of trade negotiations, reaching an understanding on a deal that could shape the future of the country's key export sectors, a media report said on Saturday. While both sides have reached an understanding, a formal announcement is expected only after the US concludes similar ongoing negotiations with other trade partners, Dawn News reported. The understanding was reached with less than a week before the July 9 deadline to conclude the talks in Washington, where Commerce Secretary Jawad Paal led the Pakistan delegation to finalise a long-term reciprocal tariff agreement that would prevent the re-imposition of a 29 per cent tariff on Pakistani exports, primarily textiles and agricultural products. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Scientists: Tinnitus? When tinnitus won't go away, do this (Watch) Hearing Magazine Undo The tariff relief, temporarily paused earlier this year, was at risk of expiring if no progress had been made by July 9. Officials familiar with the negotiations said the four-day talks were successful, with both sides agreeing to a broad framework. Live Events The agreement, when signed, could lead to increased Pakistani imports of US goods - notably crude oil - and potential American investment in Pakistan's mining, energy, and infrastructure sectors. Projects like the Reko Diq copper and gold mine and related energy infrastructure were a focus of the discussions. The deal could also pave the way for expanded engagement through the US Export-Import Bank. Although US Treasury Secretary Scott Bessent earlier indicated that Washington might allow limited flexibility on the deadline if meaningful pro-g-ress was evident, Pakistani officials said they pushed for early conclusion of negotiations to remove uncertainty for exporters and investors. Officials remain optimistic that the agreement will sustain Pakistan's access to the US market and help reset bilateral economic ties under strain since the high tariffs were introduced during the Trump administration, according to the report.
Mint
3 days ago
- Business
- Mint
Pak, US conclude critical round of trade negotiations
Islamabad, Pakistan and the US have concluded a critical round of trade negotiations, reaching an understanding on a deal that could shape the future of the country's key export sectors, a media report said on Saturday. While both sides have reached an understanding, a formal announcement is expected only after the US concludes similar ongoing negotiations with other trade partners, Dawn News reported. The understanding was reached with less than a week before the July 9 deadline to conclude the talks in Washington, where Commerce Secretary Jawad Paal led the Pakistan delegation to finalise a long-term reciprocal tariff agreement that would prevent the re-imposition of a 29 per cent tariff on Pakistani exports, primarily textiles and agricultural products. The tariff relief, temporarily paused earlier this year, was at risk of expiring if no progress had been made by July 9. Officials familiar with the negotiations said the four-day talks were successful, with both sides agreeing to a broad framework. The agreement, when signed, could lead to increased Pakistani imports of US goods — notably crude oil — and potential American investment in Pakistan's mining, energy, and infrastructure sectors. Projects like the Reko Diq copper and gold mine and related energy infrastructure were a focus of the discussions. The deal could also pave the way for expanded engagement through the US Export-Import Bank. Although US Treasury Secretary Scott Bessent earlier indicated that Washington might allow limited flexibility on the deadline if meaningful progress was evident, Pakistani officials said they pushed for early conclusion of negotiations to remove uncertainty for exporters and investors. Officials remain optimistic that the agreement will sustain Pakistan's access to the US market and help reset bilateral economic ties under strain since the high tariffs were introduced during the Trump administration, according to the report. This article was generated from an automated news agency feed without modifications to text.
The Star
4 days ago
- Business
- The Star
Pakistan-US trade talks in final stretch
Pakistan hopes to avert the reimposition of a 29 per cent US tariff on Pakistani exports — primarily textiles and agricultural products. - Dawn/ANN 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
