US President Donald Trump announced a new agreement between the United States and Pakistan for the joint development of oil reserves in Pakistan on Wednesday – a development likely to take into account the current discussions between the two countries.
In an article on his social media platform, Truth Social, President Trump said: “We have just concluded an agreement with the country of Pakistan, by which Pakistan and the United States will work together to develop their massive oil reserves.”
He added that the United States was selecting a business to lead the initiative. “Who knows, maybe they will sell oil to India one day!” He pointed out.
The announcement is part of a wider push in the US administration to guarantee new commercial partnerships. “We are very busy in the White House today working on commercial agreements,” wrote Trump. “I spoke to the leaders of many countries, who all want to make the United States” extremely happy “.”
He said several countries were now proposing prices. “All this will help reduce our trade deficit in a very important way,” he said, promising that a full report would be published “at the appropriate time”.
Learn more: Pakistan removes the obstacle in the trade agreement with us
Development follows Pakistan’s recent decision to exempt foreign technology companies from a five -hundred tax on digitally supplied goods and services – a measure largely considered a gesture of goodwill towards Washington.
The Federal Board of Revenue officially informed the exemption from the exemption, coinciding with the visit of the Minister of Finance Muhammad Aurangzeb in Washington, where he is engaged in talks to solve the pending problems that hinder a broader trade agreement.
Last week, Foreign Minister Ishaq Dar said that the United States and Pakistan were “very close” to a trade agreement that could arrive in a few days, after meeting Secretary of State Marco Rubio on Friday.
Under Trump, Washington tried to renegotiate trade agreements with many countries which he has threatened with prices on what he calls unfair trade relations.
Earlier, Trump announced that India imports would now face a 25%rate. He also referred to an “penalty” not specified in response to purchases in the course of Russian weapons and energy in India.
The new rate is slightly lower than that offered in April but is always higher than the prices imposed on other Asian nations which have signed preliminary agreements with Washington.
Trump has decided to upset the global economy by trying to take advantage of American economic power to tighten business partners with prices and force foreign companies to move to the United States.
Also read: Trump tells us to impose a 25% rate on India from August 1
He has already announced that the agreement on five countries – Great Britain, Vietnam, Japan, Indonesia and the Philippines – as well as that of the EU of 27 nations.
US and Chinese officials have had talks this week in Stockholm on the extension of a commercial truce that temporarily lowered the prices of three -digit power.
Although no agreement was announced during the meetings, the two parties envisage an extension before the deadline of August 12.
Meanwhile, Trump announced 50% prices on Brazil – in part to put pressure on the South American ally to close the trial of the former far -right president, Jair Bolsonaro, on the coup accusations.
