Pakistan has proposed a zero-tariff bilateral trade agreement with the United States (US) following President Donald Trump’s intent to ‘substantially’ boost trade with Pakistan, ARY News reported citing sources.
The Pakistani proposal suggests that both countries enter into an agreement with zero tariffs on selected tariff lines, based on mutual interests, to expand bilateral trade across multiple sectors, the sources said. The move aims to strengthen economic ties and boost trade between the two countries.
The proposal came in response to US President Donald Trump’s announcement to increase trade with Pakistan, following his role in brokering a ceasefire agreement between Pakistan and India.
After the ceasefire, Trump expressed his intent to engage in ‘substantial’ trade with both nations. “Pakistan seeks to extend bilateral trade with the US in various sectors through this initiative,” the sources added.
It may be noted here that Donald Trump’s announced imposition of heavy reciprocal tariffs on multiple countries last month but later suspended the same for 90 days with exception of China.
Read More: Trump says will increase trade ‘substantially’ with India, Pakistan
For the unversed Donald Trump announced a ceasefire agreement between Pakistan and India, following Pakistan’s befitting response under Operation Bunyanum Marsoos against Indian aggression.
“After a long night of talks mediated by the United States, I am pleased to announce that India and Pakistan have agreed to a FULL AND IMMEDIATE CEASEFIRE. Congratulations to both Countries on using Common Sense and Great Intelligence,” the US president posted on TruthSocial.
Later, in another post, Donald Trump said, “I am going to increase trade, substantially, with both of these great Nations.”
Prime Minister Shehbaz Sharif also welcomed the US president’s statement.