Fri Aug 01 18:07:57 UTC 2025: **Summary of the Text:**
On August 1, 2025, Pakistan announced that the U.S. has imposed a 19% tariff on its exports. Pakistan views this as a positive development, improving their competitiveness in the U.S. market, especially in the textiles sector. This new rate is significantly lower than the previously announced 29% tariff by former President Trump. It comes after a trade deal was finalized between the U.S. and Pakistan, which also includes potential cooperation on developing Pakistan’s oil reserves. Pakistan is keen to attract U.S. investment in various sectors. The U.S. also imposed tariffs on other countries, ranging from 10% to 40%, on the same day.
**News Article:**
**Pakistan Hails Reduced U.S. Tariff as Boost to Competitiveness**
Islamabad – Pakistan’s Ministry of Foreign Affairs announced Friday that the United States has imposed a 19% tariff on Pakistani exports, a move welcomed by the government as “balanced and forward-looking.” Officials believe the reduced tariff, down from a previous 29% proposed by the Trump administration, will enhance Pakistan’s competitiveness in the American market, particularly for its vital textiles industry.
“This decision reflects a balanced and forward-looking approach by the U.S. authorities, keeping Pakistan competitive relative to other South and Southeast Asian countries,” the Ministry stated.
The announcement follows the finalization of a trade agreement between the two nations in Washington on Wednesday. The agreement also reportedly includes potential cooperation on developing Pakistan’s “massive oil reserves,” though details remain unclear. Pakistan has long sought investment to tap into its unproven oil deposits.
Khurram Schehzad, Advisor to Pakistan’s Finance Minister, noted the deal signals a “strategic deepening of economic ties and shared growth,” highlighting the potential for U.S. investment.
The U.S. move comes as Washington imposed tariffs on over five dozen countries, with rates ranging from 10% to 40%.
First Piper 