Pakistani Delegation Arrives in Washington to Finalize Key Trade Deal

WASHINGTON, July 1 — A high-level Pakistani delegation arrived in Washington on Monday to finalize a trade agreement aimed at easing economic tensions and recalibrating bilateral relations with the United States.

Led by Commerce Secretary Jawad Paal, the delegation will hold negotiations with U.S. Trade Representative Jamieson Greer and senior officials from multiple U.S. departments. The talks, which have been underway for more than a month, are expected to wrap up this week, according to Pakistan’s Finance Ministry.

The discussions focus primarily on reciprocal tariffs and are part of a broader effort to “reset economic ties at a time of shifting geopolitical alignments,” Pakistani officials said. Islamabad is seeking relief from steep U.S. import duties—currently 29 percent on Pakistani exports—imposed under former President Donald Trump.

To address the trade imbalance, Pakistan has offered to boost imports of American goods, particularly crude oil, and open new investment avenues for U.S. firms in sectors such as mining. In 2024, Pakistan recorded a $3 billion trade surplus with the United States.

“Both sides expressed satisfaction with the progress and agreed to conclude the trade negotiations next week,” the Finance Ministry noted following a recent meeting between Finance Minister Muhammad Aurangzeb and U.S. Commerce Secretary Howard Lutnick.

As part of the diplomatic and economic outreach, the two countries co-hosted a webinar last week to promote investment in Pakistan’s mineral sector. The $7 billion Reko Diq copper-gold project in Balochistan was featured prominently during the session, which included discussions on public-private partnerships and regulatory reforms.

The U.S. Export-Import Bank is currently reviewing financing proposals for Reko Diq valued between $500 million and $1 billion.

U.S. Treasury Secretary Scott Bessent confirmed that Washington is in advanced talks with 18 key trading partners and expects several trade deals to be concluded by Labor Day. “If we can ink 10 or 12 of the important 18 … then I think we could have trade wrapped up by Labor Day,” Bessent told Fox Business, suggesting a more flexible timeline than the initially projected July 9 deadline.

Former President Trump recently stated that trade negotiations had been used strategically to de-escalate tensions between Pakistan and India. U.S. officials believe that finalizing agreements with both countries could bolster regional stability and pave the way for broader economic cooperation.