The U.S. and Pakistan have reached an agreement that includes reduced tariffs for Pakistan and a partnership in which the U.S. will assist in developing the country’s oil reserves, officials from both sides announced.
"We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive Oil Reserves," U.S. President Donald Trump wrote on social media on Wednesday.
Pakistani Foreign Minister Ishaq Dar likewise confirmed the agreement on social media but offered no further details.
However, Pakistan's finance ministry said on Thursday that the trade deal "will result in reduction of reciprocal tariffs especially on Pakistani exports to the United States," without specifying the exact tariff changes.
"This deal marks the beginning of a new era of economic collaboration especially in energy, mines and minerals, IT, cryptocurrency and other sectors," it said.
The agreement comes as Pakistan avoided a 29% tariff under earlier U.S. threats, which were paused to allow negotiations.
Talks gained momentum after recent meetings between Foreign Minister Ishaq Dar and Secretary of State Marco Rubio.
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A senior member of German Chancellor Friedrich Merz's ruling CDU party has resigned after having a baby born through a surrogate mother in the U.S., c...
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A senior member of German Chancellor Friedrich Merz's ruling CDU party has resigned after having a baby born through a surrogate mother in the U.S., contrary to his own party’s position on surrogacy.
A landslide in the southwestern Chinese city of Chongqing killed at least eight people and left about 34 missing on Friday.
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The U.S. military said it completed a sixth consecutive night of strikes on Iran late on Thursday, targeting logistics infrastructure and maritime capabilities. Iran responded by launching strikes at U.S. bases in neighbouring countries.
SpaceX's Starship rocket aborted its 13th flight test just seconds before liftoff in Texas on Thursday after some of its 33 engines failed to start. CEO Elon Musk said the company is likely to make another launch attempt early next week.
A senior member of German Chancellor Friedrich Merz's ruling CDU party has resigned after having a baby born through a surrogate mother in the U.S., contrary to his own party’s position on surrogacy.
A landslide in the southwestern Chinese city of Chongqing killed at least eight people and left about 34 missing on Friday.
Russian attacks on Ukraine's southern ports killed at least five people, damaged foreign-flagged civilian vessels, and further disrupted Black Sea grain exports, while Ukraine launched drone strikes targeting Russian logistics and infrastructure.
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Start your day informed with AnewZ Morning Brief. Here are the top news stories for the 18th of July, covering the latest developments you need to know.
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