- Trumo says that the American oil company will soon be selected to lead the partnership.
- India faces 25% of American rates, possible penalties on Russian imports.
- Pressure assembly on Modi Govt as commercial discussions with us that are not very conclusive.
In another major diplomatic victory for Pakistan, US President Donald Trump confirmed the finalization of a trade agreement between the two countries, a decision that reports growing confidence and deepened economic ties between Islamabad and Washington.
The announcement comes as India, always rushing to finalize a trade agreement with Washington, is found under increasing pressure, looking at heavy prices of 25% and the risk of penalties on its continuous energy links with Russia.
“We have just concluded an agreement with the country of Pakistan, by which Pakistan and the United States will work together to develop their massive oil reserves. We are choosing the oil company which will lead this partnership. Who knows, maybe they will sell petroleum to India one day!,” Wrote the American president in a social post.
President Donald Trump said on Wednesday that the United States is still negotiating with India on trade after announcing earlier in the day that the United States will impose a 25% rate on goods imported from the country from Friday.
The price of 25%, as well as an undeveloped sanction announced by Trump in a morning article on social networks, would excite relations with the most populous democracy in the world.
Later at the White House, the Republican President said there was a room for maneuver.
“They now have one of the highest rates in the world, they are ready to cut it very much,” Trump told journalists. “We are talking to India now – we will see what’s going on … You will know by the end of this week.”
The 25% figure would constitute more severely India than other major trade partners and would threaten months of talks between the two countries, undergoing a strategic partner in Washington and a counterweight to China.
What the penalty would be not clear. Trump initially indicated that it was for India to buy Russian weapons and petroleum and its non -monetary commercial barriers.
This is a story in development and is updated with more details.
