- The United States remains the largest export destination in Pakistan.
- Direction, working groups trained for the response.
- Pakistan seeks to finalize the agreement before April 9.
The Minister of Finance Muhammad Aurangzeb expressed his optimism that current concerns concerning American prices could be transformed into a mutually beneficial opportunity for the two countries.
“We want to make sure that we, in terms of our representations, have advanced how we see it in the long term as a win-win situation for Pakistan and the United States,” said Aurangzeb at a press conference in Islamabad on Saturday.
US President Donald Trump imposed an astonishing price of 29% on imports from Pakistan – one of the strongest economic strikes in recent history.
The United States remains the main export destination in Pakistan and, according to the State Bank of Pakistan, total exports to the United States during the year 2023-24 amounted to $ 5.44 billion.
This unprecedented levy, which is part of the most aggressive American trade policy for almost a century, has shook the world markets and put emerging economies at the end.
For Pakistan, whose textile industry is based strongly on exports to the United States, this price is more than a simple financial setback – it is a direct blow to its economic backbone.
The country of more than 240 million people now faces a price of 29% (which should start on April 9) on its exports to the United States, much higher than the basic line of 10%, which entered into force on April 5 (today). After April 9, all Pakistani exports will be billed a price of 39%.
Veteran Banker, the Minister of Finance stressed that Islamabad considers the question not only as a challenge but also as a chance to deepen economic cooperation with its largest export market.
He stressed that the United States is an important strategic and commercial partner for Pakistan, adding that the government approaches the issue with a full response plan.
To this end, Prime Minister Shehbaz Sharif has constituted two specialized organizations: a steering committee chaired by Aurangzeb himself and including ministers, business leaders, secretaries and eminent academics; and a working group led by the Secretary of Commerce.
Aurangzeb noted that if the situation presents immediate challenges, it also opens doors for negotiation and long -term commitment. “You should never let a good crisis get lost,” he said, highlighting the government’s intention to formulate and present a well-structured package to the US administration.
The Minister of Finance said that recommendations should be finalized in the coming days and submitted to the Prime Minister for approval.
Following this, a high -level delegation will go to Washington to transmit Pakistan’s position and an additional dialogue with American officials. He said that Islamabad remains “very constructively committed” and hopes to strengthen the relationship thanks to strategic discussions before the deadline of April 9 of the 29%tariff.
