US imposes trade tariffs, Pakistan gets major relief over India

US imposes trade tariffs, Pakistan gets major relief over India

Webdesk: The US government, under President Donald Trump’s leadership, has implemented a new global trade tariff policy starting today.

This policy imposes different import duties on various countries.

Pakistan has been given relatively favourable treatment compared to its traditional rival India in South Asia, under the new policy.

According to a report released by the White House, a 19 per cent import tax has been imposed on Pakistan, while India faces a 25 per cent tariff.

This move is being seen as a significant diplomatic achievement for Pakistan.

Analysts believe this concession is the result of Pakistan’s recent high-level diplomatic efforts.

These include a meeting between Field Marshal Syed Asim Munir and President Trump, Prime Minister Shehbaz Sharif’s communication with US Secretary of State Marco Rubio, and meetings in Washington involving Deputy Prime Minister Ishaq Dar and Finance Minister Muhammad Aurangzeb.

The report also states that, along with Pakistan, countries like Indonesia, Malaysia, the Philippines, and Thailand will face a 19 per cent tariff.

In contrast, India, Kazakhstan, and Moldova have been hit with a 25 per cent tariff. While South Africa, Libya, and Algeria face a 30 per cent rate.

Myanmar and Laos will face a 40 per cent tariff, and Syria has been given the highest rate at 41 per cent.

Interestingly, the US has also imposed a 15 per cent tariff on its traditional ally Israel.While the rate for Canada has been raised from 25 per cent to 35 per cent.

Experts have welcomed the announcement of a trade agreement between the United States and Pakistan, made on Wednesday night, which includes a partnership to develop oil reserves in Pakistan.

On Thursday morning, US President Donald Trump said that his administration had reached a trade deal with Pakistan that involves the joint development of the country’s “massive” oil reserves.

While full details of the agreement have not yet been shared, local experts have responded positively to the news.

Oil industry professionals in Pakistan view Trump’s mention of “massive” oil reserves with optimism.

Muhammad Iqbal Jawaid, an oil industry expert based in Karachi, described the development as “encouraging” for Pakistan’s “untapped” oil and gas sector, which he said has a “huge” potential to grow.

“Pakistan enjoys a huge untapped potential for oil and gas, but it requires massive resources that we don’t have. If the US comes into the picture, it could lead to a major breakthrough,” Jawaid told Anadolu.

He added that regions like Balochistan, Khyber Pakhtunkhwa, and the tribal areas near the Afghanistan border hold strong potential for oil and gas exploration.

Read more: Pakistan’s first US oil cargo set for October arrival

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