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Arab News
4 days ago
- Business
- Arab News
Pakistan, US step up investment talks, move toward joint counterterrorism plan
KARACHI: Senior Pakistani and US officials on Friday discussed next steps in economic investment and the development of a joint counterterrorism strategy in meetings aimed at deepening economic and defense ties between the two countries. Pakistan's commerce ministry said earlier this week it had finalized a strategy to implement a recently negotiated tariff deal with the United States that Islamabad hopes will unlock US investment. Announced last month, the agreement set a reduced tariff rate of 19 percent on Pakistani imports — the lowest in the region — and is expected to revive bilateral trade while opening the way for US firms to participate in various Pakistani economic sectors. In talks with US Chargé d'Affaires Natalie Baker in Islamabad, Finance Minister Muhammad Aurangzeb said Pakistan's economy had 'turned a corner' after a prolonged downturn, a shift recognized by three major international rating agencies. 'The Minister emphasized that the [trade] agreement would usher in a new era of economic collaboration — particularly in energy, mines and minerals, IT, cryptocurrency and other sectors — while expanding market access, attracting investment and fostering cooperation in areas of mutual interest,' the finance ministry said in a statement released after the meeting. 'He expressed hope that the deal would lead to increased US investment in Pakistan's infrastructure, development projects and digital and mining sectors, which were ready for tangible action and progress,' it added. Aurangzeb thanked Washington for its continued economic and development support and recalled recent meetings in the US with senior officials to finalize the trade deal. In a video message after last month's announcement, he had noted Pakistan's goal was always to move 'beyond the immediate trade imperative,' calling the US-Pakistan pact 'a real win-win situation' for both nations. Pakistan, he added, had 'come a long way' in its overall strategic partnership with the US. COUNTERTERRORISM PLAN Separately, Interior Minister Mohsin Naqvi met US Coordinator for Counterterrorism Gregory LoGerfo in Islamabad to discuss closer cooperation to fight militant violence, and to work jointly on border security and anti-narcotics efforts. Pakistan and the US have shared a defense relationship dating back to the Cold War era, collaborating over decades on regional stability and counterinsurgency in Afghanistan. The latest talks between Naqvi and LoGerfo came days after Washington designated the separatist Baloch Liberation Army (BLA) and its Majeed Brigade faction as 'terrorist' organizations. Both have carried out coordinated attacks in Balochistan targeting security personnel, civilians and foreign nationals working on major development projects. 'Naqvi added that counterterrorism dialogue will help in creating a joint strategy,' the interior ministry said in a statement. 'He termed the US decision to designate the banned BLA and banned Majeed Brigade as Foreign terrorist organizations a commendable step, expressing hope that Pakistan-US cooperation will yield positive results in eliminating terrorism.' Naqvi also noted that bilateral ties had improved since President Donald Trump took office, citing transparency, mutual trust and cooperation as the hallmarks of the relationship and called it an opportune time to strengthen engagement in all areas.
Washington Post
16-06-2025
- Business
- Washington Post
Trump economist outlines case for business tax cuts, as GOP weighs bill
A top Trump administration official and two other economists released a paper on Monday outlining how business tax cuts boost economic investment as congressional Republicans debate the extent of these policies in their tax legislation. In a paper for the National Bureau of Economic Research, White House National Economic Council Director Kevin Hassett argues he has found that business tax cuts from the GOP's 2017 tax law generated larger increases in investment than previously known, even years after the legislation's enactment.
Forbes
12-05-2025
- Business
- Forbes
Here's What To Know About Trump's Middle East Visit
President Donald Trump left Washington on Monday en route to Saudi Arabia, the first stop on a four-day visit to the Middle East featuring heavy pageantry and a focus on economic investment in a region where Trump's family business is expanding its footprint. President Donald Trump boards Air Force One at Joint Base Andrews in Maryland on May 12, 2025. ... More (Photo by BRENDAN SMIALOWSKI/AFP via Getty Images) The specific goals of the visit are somewhat unclear, though it's expected to center around new economic investments, rather than broader geopolitical strategy. Conflict-of-interest concerns have swirled ahead of the visit, particularly surrounding Trump's family business ventures in the region and, more recently, the expected announcement that Qatar will gift the Trump administration a new 747 mega-jet. Trump will land in Saudi Arabia at 9:45 a.m. local time Tuesday. He will participate in a state visit, an investment forum hosted by the Saudi government and a state dinner. Elon Musk is expected to attend the investment forum, along with executives from Palantir, Blackrock, Citigroup, IBM, Boeing, Delta, American Airlines and United Airlines, Reuters reported, citing a planning note it obtained. Later Wednesday, Trump will travel to Qatar, where he'll meet with Sheikh Tamim bin Hamad Al Thani. He will conclude the trip Thursday in the United Arab Emirates, where he will meet with President Mohammed bin Zayed Al Nahyan before returning to the U.S. Secretary of State Marco Rubio, Defense Secretary Pete Hegseth, Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and White House Chief of Staff Susie Wiles, CNN reported, citing unnamed senior White House officials. Multiple Trump-branded properties and crypto deals are among those in the Trump family's Middle East business portfolio. Among the real estate ventures in the works are a Trump golf resort in Qatar and Trump residential towers in Dubai and Jeddah, Saudi Arabia. An investment fund backed by the United Arab Emirates, MGX, also used $2 billion in stablecoin issued by the Trump family's World Liberty Financial to invest in Binance earlier this year. The deal contributed to the failure last week of a crypto industry-friendly bill that would have regulated stablecoins, as senators on both sides of the aisle expressed concerns about Trump's links to the MGX-Binance deal and his personal stake in the stablecoin legislation. The White House has dismissed concerns about any potential conflicts of interest between Trump's official government duties and his personal business in the Middle East. 'I think it's frankly ridiculous that anyone in this room would even suggest that President Trump is doing anything for his own benefit,' White House press secretary Karoline Leavitt told reporters Friday. Trump is seeking a $1 trillion investment in the U.S. from Saudi Arabia. He told reporters in March he agreed to the trip because Saudi Arabia agreed to the investment, though Riyadh has yet to confirm the figure, and experts told The New York Times the amount is unrealistic given the size of Saudi Arabia's economy. Qatar is expected to gift the Trump administration a $400 million 747-8 jumbo jet to use in place of Air Force One—what could be the largest foreign gift to the federal government in history, raising concerns it could set the stage for a quid pro quo situation. The White House has vehemently rejected any pay-for-play suggestions. Trump said Monday the plane would be gifted to the Defense Department, not him personally. He also said he wouldn't use the plane after leaving office even though it would be donated to his presidential library after its tenure as Air Force One. Saudi Arabia proposed in January an additional $600 billion investment in the U.S. over the next four years, with the potential to increase the amount, though it's unclear exactly where the money would go. The United Arab Emirates announced in March a new $1.4 trillion investment over the next decade in artificial intelligence, semiconductors, manufacturing and energy. The U.S. and Qatar last year reached an agreement to extend U.S. military presence at the Al Udeid Air Base for another 10 years. Trump Says He Won't Use Luxury Plane From Qatar After Leaving Office—Here's What We Know (Forbes) The 3 Easy New Ways Anyone Can Funnel Money Directly To Donald Trump's Businesses (Forbes) Key Crypto Bill Imperiled By Trump Crypto Firm's Deal With Emirati State-Owned Fund (Forbes)
