Pakistan signs big deal with US after imposing tariffs on India

The United States has signed a trade deal with Pakistan, hours after announcing a 25 percent tariff on India. US President Donald Trump announced this on Wednesday (July 30). Pakistani media outlet The Express Tribune reported that Trump said the deal with Pakistan includes joint development of the country’s “huge” oil reserves. The announcement came as talks with South Korea and other countries were underway ahead of Trump’s self-imposed August 1 deadline. Trump wrote on his social media platform Truth Social, “We have completed a deal with Pakistan, through which Pakistan and the United States will work together on their vast oil reserves.” Without giving further details of the deal, the US president wrote in his post, The process of selecting the oil company that will lead this partnership is underway. Who knows, maybe they (Pakistan) will one day sell oil to India! Trump said his administration is “very busy with trade deals in the White House.” “I have spoken to leaders of many countries, all of whom want to make the United States ‘very happy’,” he said. Earlier, Donald Trump announced that India would impose a 25 percent tariff on the United States from August 1. He said, “Remember, India is our friend, but we have done relatively little business with them over the years. Because their tariffs are very high. Also, they (India) have always bought a large part of their military equipment from Russia and are the largest buyer of Russian energy. India has done this at a time when everyone wants Russia to stop the killing in Ukraine – all is not well.” Trump also said, “India will pay a 25 percent tariff on all of these, plus the above penalties, which will be effective from August 1. Thank you for your attention on this matter. Make America Great Again.”