Pakistan, US Sign Trade Deal to Drill Oil, Boost Market Ties

Pakistan’s Finance Minister Muhammad Aurangzeb, center, with US Trade Representative Jamieson Greer, second right, in Washington DC on July 30.Source: Pakistan’s Finance Ministry

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By Kamran Haider

July 31, 2025 at 5:22 AM UTC

Updated on

July 31, 2025 at 11:38 AM UTC

The US sealed a trade deal with Pakistan as their officials wrapped up talks in Washington, agreeing to develop oil reserves.

The pact involves a reduction of the so-called reciprocal tariffs, especially on Pakistani exports, according to a statement by Pakistan’s finance ministry on Thursday. No details on tariffs were shared by either side.