Pakistan Sends High-Level Delegation to US to Address New Tariffs and Strengthen Trade Relations

In a move to safeguard Pakistan’s trade interests and address newly imposed tariffs, Prime Minister Shehbaz Sharif has approved the dispatch of a high-level delegation to the United States. The delegation’s primary objective is to negotiate the recent 29% tariff imposed on Pakistani goods and to discuss strategies for strengthening bilateral trade relations between the two nations.

The decision came during a review meeting held in Islamabad, which focused on increasing Pakistan’s national exports and tackling Washington’s tariff measures. Pakistan’s exports to the US, predominantly textiles, are valued at around $6 billion annually, and the new tariffs could pose a significant challenge.

The delegation will consist of prominent business figures, key exporters, and government representatives. Prime Minister Shehbaz Sharif emphasized the importance of involving all relevant stakeholders in the negotiations to ensure that Pakistan’s interests are well-represented. The delegation will aim to devise long-term strategies to safeguard and expand Pakistan’s trade relations with the US, which is the country’s largest single export market.

Pakistan’s embassy in Washington has been actively engaged with US officials, seeking a resolution to the tariff issue. It is estimated that the new duties could cost Pakistan between $500 to $700 million in lost export revenue.

Prime Minister Shehbaz Sharif also underscored the need to strengthen Pakistan-US ties, not only in trade but also in regional security and counter-terrorism cooperation. The prime minister expressed Pakistan’s desire to work closely with the US on issues of mutual interest, highlighting the potential for greater economic collaboration, especially in Pakistan’s mineral sector.

Background of the Tariff Dispute:

This diplomatic move follows a recent decision by the US to impose a 29% tariff on goods imported from Pakistan. This came in response to Pakistan’s decision to impose a 58% tariff on US products. The escalation of trade tensions has raised concerns among Pakistani exporters, particularly in the textile sector, which constitutes the bulk of Pakistan’s exports to the US.