Prime Minister Shehbaz Sharif has extended deep gratitude to Donald Trump for his “leadership role” in delivering a breakthrough trade agreement between Pakistan and the United States. The pact, confirmed after a round of high-level meetings in Washington, is seen as a turning point in the two countries’ economic relationship.
Announced on July 30 via Truth Social by Trump and acknowledged the following morning by Shehbaz on X, the agreement encompasses tariff revisions, technology sector access, and a strategic oil exploration venture within Pakistan’s borders.
“We have finalized a big trade deal with Pakistan,” Trump posted. “We will explore oil reserves together with Pakistan… So much oil will be extracted that we may even be able to sell it to India.”
The formal signing occurred after a high-stakes meeting between Pakistan’s Finance Minister Muhammad Aurangzeb and US Secretary of Commerce Howard Lutnick. Also present was Jamieson Greer, the US Trade Representative, who emphasized mutual trust and long-term engagement.
Key components of the deal include:
- Enhanced export access for Pakistani manufacturers,
- A joint initiative to explore and extract oil, managed by a US-selected global firm,
- Bilateral development in cryptocurrency and digital assets regulation,
- Focused support for Pakistan’s growing tech and mineral sectors.
Officials say the satellite framework for the energy component is nearly complete, with plans for operational launch by early 2026. Pakistan’s Ministry of Finance anticipates increased investor confidence due to the deal’s built-in transparency clauses.
As the global trade environment shifts—with Trump announcing tariffs on Indian imports and ongoing talks with China—Pakistan’s alignment with the US may offer significant strategic leverage in a reshaped world economy.