Washington, D.C. — U.S. President Donald Trump has announced that a comprehensive trade agreement with Pakistan has been finalized. As part of this deal, both countries will jointly explore oil reserves, selecting a shared oil company to oversee the exploration process.
Speaking to the media in Washington, President Trump confirmed,
“The trade deal with Pakistan is complete. Both governments will work together to choose the company that will supervise the oil exploration efforts.”
Trump also hinted at the possibility of Pakistan selling oil to India in the future, opening regional economic opportunities.
He further stated that the full details of the deal will be released at an appropriate time. He added that the White House is actively working on several trade agreements, including completed deals with Japan and the European Union, and that many countries around the world are seeking to strengthen trade ties with the U.S.
Tough Stance on India
In contrast, Trump took a firm stance against India, announcing that beginning August 1st, India will face a 25% tariff, up from the previous 14.26%. Read full details about Trump’s tariff warning to India here.
He accused India of signing large military and energy agreements with Russia and China, despite claiming to be a U.S. ally.
“If India fails to pay the tariff, it will face penalties and harsh trade restrictions,” said Trump.
Additionally, the President blocked the establishment of a Tesla plant in India and warned Apple Inc. that iPhones not manufactured in the U.S. could be subjected to a 25% import tariff.
Context
Trump has previously criticized India’s trade practices and reiterated his “America First” policy, emphasizing that U.S. interests will always take precedence in global agreements.
