Pakistan, US Sign Trade Deal to Drill Oil, Boost Market Ties (1)

The US sealed a trade deal with Pakistan as their officials wrapped up talks in Washington, agreeing to develop oil reserves.

The pact involves a reduction of the so-called reciprocal tariffs, especially on Pakistani exports, according to a statement by Pakistan’s finance ministry on Thursday. No details on tariffs were shared by either side.

Pakistan’s Finance Minister Muhammad Aurangzeb, center, with US Trade Representative Jamieson Greer, second right, in Washington DC on July 30.

Source: Pakistan’s Finance Ministry

US President Donald Trump said in a post on Truth Social that the two countries will “work together on developing their massive oil reserves,” adding that officials are now selecting a company to anchor the partnership. The agreement will spur US investments in Pakistan’s ...