Pakistan has created a major breakthrough in global trade by announcing zero per cent tariff on the import of around 4,200 American products, under a newly concluded trade agreement with the United States.
The development was confirmed by Prime Minister’s Coordinator on Commerce, Rana Ihsan Afzal Khan, during a talk show on Express News. He, however, clarified that the decision does not mean an immediate surge of US products in local markets, as Chinese goods will likely retain a competitive edge owing to their lower logistical costs.
A formal statement on the revised tariff regime is expected soon from the Ministry of Commerce. The Pakistan–US trade pact, earlier finalised, is aimed at boosting bilateral trade, expanding market access, attracting investment and fostering cooperation in key sectors.
The Pakistani Embassy in Washington described the agreement as a “landmark development”, while US President Donald Trump, announcing it on Truth Social, also spoke of cooperation to develop Pakistan’s vast oil reserves, hinting at future exports of Pakistani oil to India.
Federal Finance Minister Muhammad Aurangzeb went to Washington to conclude negotiations and high-level meetings linked to the trade framework.
