Shahbaz Sharif
International News: Trump-Pakistan Oil Deal: US President Donald Trump has made a big announcement and announced a new trade agreement and oil partnership with Pakistan. This statement came at a time when Trump announced a 25% tariff and additional penalty on goods imported from India. Trump said that the US and Pakistan will jointly develop the huge oil reserves there, and it is possible that in the future Pakistan will also sell oil to India.
Trump's statement has come at a time when he has implemented a new tariff policy on India due to oil purchases from Russia and other trade sanctions. He gave detailed information about this deal on the social media platform 'Truth Social' and called it a big step towards reducing America's trade deficit.
Donald Trump said, "We have just completed a deal with Pakistan, under which America and Pakistan will together develop their huge oil reserves. Who knows, maybe one day they will sell oil to India too!"
According to Trump, under this deal, an American oil company will be given the responsibility to assist in the development of Pakistan's energy resources. However, he did not share the name of any company or the timeline for the start of the project.
Trump announced a 25% tariff and additional punitive duty on imports from India, which will be effective from August 1. He cited India's continued purchase of oil from Russia and ignoring of trade sanctions as the reason behind this. Trump said, "The trade balance with India is not good, and this step is in the interest of America."
Trump said in his post that he is talking to the leaders of many countries of the world, and everyone wants to make America very happy. He said, "All these deals will help in reducing America's trade deficit to a great extent."
Trump indicated that countries like South Korea are also offering tariff exemptions. Trump said, "South Korea is currently on a 25% tariff, but they have proposed to reduce it. I am ready to listen to them." Apart from this, he said that many other countries are also interested in a tariff deal with America, and the full report will be made public soon.
Last week, Pakistan's Foreign Minister Ishaq Dar also confirmed this possible deal. He said that the US and Pakistan are very close to a trade agreement. He met US Secretary of State Marco Rubio, after which both countries reiterated their commitment to increase cooperation in trade, minerals, and mining sectors.
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