Pakistan says it held productive commerce talks in Washington

Pakistan stated it held productive commerce talks with the U.S. in Washington on Friday (July 18, 2025) to advance financial cooperation, in accordance with an announcement from the South Asian nation’s finance ministry.

Finance Minister Muhammad Aurangzeb met U.S. Commerce Secretary Howard Lutnick and U.S. Trade Representative Ambassador Jamieson Greer, the assertion stated.

“Both sides expressed satisfaction with the progress in enhancing trade and economic ties, a cornerstone of Pakistan-U.S. bilateral relations,” the assertion added.

It stated Mr. Aurangzeb emphasised that the U.S. remained Pakistan’s largest buying and selling accomplice.

Both sides expressed optimism that ongoing commerce talks would yield constructive outcomes, benefiting the economies of each nations, the finance ministry stated.

Pakistan was optimistic that the commerce talks would conclude in every week’s time after a digital assembly between Mr. Aurangzeb and Mr. Lutnick late final month.

The negotiations, targeted on reciprocal tariffs, are a part of a broader push to reset financial ties at a time of shifting geopolitical alignments and Pakistan’s efforts to keep away from steep U.S. duties on exports.

Pakistan faces a 29% tariff on exports to the U.S. beneath President Donald Trump’s measures to focus on nations with giant commerce surpluses with the U.S.

Pakistan’s surplus was round $3 billion in 2024.

To offset the imbalance and ease tariff pressures, Islamabad has supplied to import extra U.S. items, together with crude oil, and to open up funding alternatives via concessions for U.S. companies in Pakistan’s mining sector.

U.S.-Pakistan relations noticed a serious enhance when Trump hosted Pakistan’s military chief Field Marshal Asim Munir on the White House final month in an unprecedented assembly.