LAHORE: Formal negotiations have begun between Pakistan and the United States on mutual tariffs. In this regard, Federal Finance Minister Muhammad Aurangzeb held a telephonic conversation with the U.S. trade representative.
According to a statement issued by the Federal Ministry of Finance, Finance Minister Aurangzeb and U.S. Trade Representative Ambassador Jamieson Greer held discussions via telephone and video conference.
The statement said that both parties exchanged views in a constructive environment and agreed to hold detailed technical-level talks in the coming weeks.
The Ministry of Finance added that both sides expressed their commitment to concluding the negotiations successfully as soon as possible.
Trump says Pakistani representatives coming to US next week for trade talks
Earlier, U.S. President Donald Trump said on Friday representatives from Pakistan are coming to the United States next week as the South Asian country seeks to make a deal on tariffs.
Pakistan faces a potential 29% tariff on its exports to the United States due to a $3 billion trade surplus with the world’s biggest economy, under tariffs announced by Washington last month on countries around the world.
Trump said he would have no interest in making a deal with the South Asian country or its neighbor, India, if they were to engage in war with each other. The two nuclear-armed rivals used fighter jets, missiles, drones and artillery in four days of clashes this month, their worst fighting in decades.
“As you know, we’re very close making a deal with India,” Trump told reporters at Joint Base Andrews after departing Air Force One.
Indian Trade Minister Piyush Goyal visited Washington recently to advance trade talks, with both sides aiming to sign an interim agreement by early July.
India faces 26% tariffs on shipments to the U.S.
Reuters reported last week that India is likely to allow U.S. firms to bid for contracts worth over $50 billion, mainly from federal entities, as it negotiates a trade deal with Washington.
