The federal government has decided to initiate talks with the Trump administration concerning the 29% tariff imposed on Pakistani products by the United States, Express News reported.
Sources have indicated that the government has started to formulate a strategy to combat the impact of the additional price and to explore the possibility of reducing it thanks to discussions with the American authorities.
In this regard, a crucial meeting took place at the Ministry of Commerce under the presidency of the Federal Minister of Commerce, Jam Kamal Khan.
Reunion, which included more than fifty exporters, importers and key stakeholders, focused on the potential effects of the 29%tariff, in particular on the textile exports of Pakistan.
The session has analyzed how new American prices could have a negative impact on the textile sector of Pakistan, which constitutes most of the country’s exports to the United States.
Pakistan average exports to the United States exceed $ 5.5 billion per year, with textiles representing a significant part.
The government has decided to continue discussions with the Trump administration in order to obtain a reduction in the new price.
In accordance with this, Prime Minister Shehbaz Sharif also trained a working group and a steering committee under the leadership of the Minister of Finance Mohammad Aurangzeb to resolve the problem and formulate a response strategy.
President Donald Trump imposed additional prices on 60 countries on Wednesday, including Pakistan, to increase income, move the trade balance and promote goods in America by discouraging imports.
The decision was surprising for the Pakistani authorities who did not expect inclusion in the list on the grounds that the average weighted prices of American exchanges were already higher than Pakistan. The country was also on the 33rd number on the list of nations with which Washington had a trade deficit.
