KARACHI: Pakistan and the United States have agreed to move forward with negotiations aimed at finalizing a trade deal “at the earliest,” as Finance Minister Muhammad Aurangzeb and US Commerce Secretary Howard Lutnick held a virtual meeting to discuss recently imposed American “reciprocal tariffs,” Pakistan’s finance ministry said on Tuesday.
Last month, Islamabad announced it had formally launched talks with the US following the imposition of steep tariffs by President Donald Trump’s administration on several countries, including Pakistan.
The duties, which Washington says are meant to correct trade imbalances and ensure fair treatment of American goods, have been widely criticized as a blow to global economic recovery efforts in the aftermath of the COVID-19 pandemic.
Pakistan has been hit with a 29 percent tariff on its exports to the US at a time when the country is trying to drive economic growth through increased exports.
“Further to Pak-US negotiations on US reciprocal tariffs, a virtual meeting took place between Mr. Muhammad Aurangzeb, Pakistan’s Finance Minister, and Howard Lutnick, United States’ Commerce Secretary on 16th June, 2025,” the finance ministry said in its statement.
