KARACHI: In a major move on the economic front, Pakistan on Friday formally initiated negotiations with US authorities over the newly-announced reciprocal tariffs that Washington imposed on a wide range of trading partners, including Pakistan.
Khurram Schehzad, Advisor to Pakistan’s Finance Minister has revealed that Federal Finance Minister Muhammad Aurangzeb on Friday held talks with Ambassador Jamieson Greer, United States Trade Representative through a conference call and exchanged their viewpoint on reciprocal tariff with the understanding that technical level detailed discussions would follow in the coming weeks.
The talks follow an April 4 announcement by US President Donald Trump, unveiling sweeping import taxes on goods entering the United States. Under the new policy, the US is set to impose a 29 percent reciprocal tariff on Pakistani goods. The measure is part of a broader global tariff strategy affecting over 185 countries and territories.
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The announcement by the US President sparked concerns among Pakistani exporters, who fear the move could disrupt trade flows to US markets and hurt export competitiveness. In response, Pakistan’s federal government has moved swiftly to engage US authorities to seek relief or adjustments.
Khurram Schehzad, Advisor to Finance Minister Muhammad Aurangzeb, revealed on his official X (formerly Twitter) account that formal negotiations commenced today (Friday) via a telephonic conference call between Finance Minister Aurangzeb and US Trade Representative Ambassador Jamieson Greer.
“Pakistan’s formal negotiations on US Reciprocal tariffs kick-started between Muhammad Aurangzeb, Pakistan’s Finance Minister and Ambassador Jamieson Greer, United States Trade Representative through a telephonic/conference call on 30th May, 2025”, Schehzad said on X.
Both sides exchanged their viewpoint through a constructive engagement with the understanding that technical level detailed discussions would follow in the coming weeks, he said and added that both sides expressed confidence in advancing the negotiations for successful conclusion at the earliest.
Under the US’s new trade policy/tariff regime, Pakistan is among several countries facing steep duties, including India (26 percent), China (145 percent), the European Union (20 percent), and Saudi Arabia, Qatar, and Afghanistan (10 percent each).
Copyright Business Recorder, 2025
