ISLAMABAD, May 30, 2025 — Pakistan and the United States have officially started negotiations on bilateral tariffs, aiming to reduce trade tensions and strengthen economic ties. The Ministry of Finance announced the development in a press release issued on Thursday.
The talks were held via teleconference between Pakistan’s Federal Finance Minister Muhammad Aurangzeb and the US Trade Representative Ambassador Jamieson Greer. According to the statement, both sides shared their perspectives in a constructive environment and agreed to hold detailed technical-level negotiations in the coming weeks.
The Ministry stated that both Pakistan and the US expressed a mutual commitment to conclude the negotiations swiftly and successfully.
The discussions come in the wake of a global reaction to US President Donald Trump’s announcement earlier this April, where he unveiled plans to impose retaliatory tariffs on multiple countries. Pakistan was among the nations facing a proposed 29% retaliatory tariff, sparking concerns among economic experts.
Following the announcement, the trade community raised alarm over potential losses. The Pakistan Institute of Development Economics (PIDE) warned that such tariffs could cost Pakistan up to $1.4 billion in export revenue. In response to widespread pushback, President Trump later suspended the tariff implementation for 90 days, giving affected countries an opportunity to negotiate.
Pakistan, like many other nations, chose to engage in formal dialogue with the US, marking a strategic shift toward diplomacy and economic engagement.
As the talks progress, stakeholders hope that successful negotiations will not only avert potential economic loss but also open new avenues for bilateral trade and investment between Pakistan and the United States.