Shehbaz Sharif Hails ‘Landmark’ US-Pakistan Trade Deal, Thanks Trump

In a surprising move, US President Donald Trump announced a landmark trade agreement with Pakistan, finalized in Washington, aimed at developing Pakistan’s largely untapped oil reserves. Pakistan Prime Minister Shehbaz Sharif praised Trump’s leadership, calling the deal “historic” and a boost for bilateral ties. “This landmark deal will expand the frontiers of our enduring partnership,” Sharif posted on X, expressing gratitude for Trump’s role.

The agreement, sealed Wednesday, focuses on collaboration to harness Pakistan’s potential offshore oil deposits, which remain underexplored due to limited expertise and funding. Trump, in a Truth Social post, hinted at ambitious prospects, stating, “Who knows, maybe they’ll be selling oil to India some day!” The comment raised eyebrows, given Pakistan’s reliance on Middle Eastern oil imports and the lack of clarity on the scale of its reserves.

The announcement comes amid Trump’s aggressive trade stance, including a 25% tariff on Indian goods effective August 1, citing India’s “strenuous and obnoxious” trade policies and its BRICS membership, which he labeled “anti-US.” He also flagged India’s purchase of Russian military equipment and energy as justification for additional penalties. India responded cautiously, noting ongoing negotiations for a “fair, balanced, and mutually beneficial” trade deal with the US.

Also Read: India-UK Trade Deal Boosts 75,000 Indian Workers

Trump’s broader trade agenda includes talks with South Korea and other nations to reduce the US trade deficit. “We’re very busy working on trade deals,” he said, promising a detailed report later. The Pakistan deal, with an oil company partnership still under selection, marks a bold step in US-South Asia relations, even as it stirs regional tensions with India.

Also Read: India-UK Trade Deal: Zero Tariffs Skyrockets Generic Drug Exports