Islamabad [Pakistan], April 29 (ANI): Pakistan has formed a high-level delegation to visit the United States, aiming to negotiate a reduction in the proposed 29 per cent US tariffs on Pakistani exports, ARY News reported.
The delegation, led by Federal Minister for Commerce Jam Kamal Khan, will include senior officials from the Ministries of Commerce, Finance, and Foreign Office.
According to ARY News, the delegation is likely to depart within a day or two.
The delegation aims to negotiate a reduction in the proposed US tariffs, eradicating non-tariff barriers, and enhancing trade between the two nations. Earlier, Pakistani exports had 9.9% of US tariff on average, but recently, 10% duties for 90 days have been increased by Washington, with a 29% tariff effect afterwards as planned, the ARY News said.
The delegation will highlight the USD 3 billion trade deficit that the US faces in its trade with Pakistan and suggest measures to mitigate the impact of the trump tariffs.
According to sources, Pakistan will push for a reduction in tariffs by 9 per cent for every USD 1 billion decline in the trade deficit.
According to recent reports, PM Shehbaz Sharif has assigned the delegation a task to secure a fair-trade framework with the US.
The Pakistani government is aggressively appealing to Washington officials to negotiate a long-term trade strategy.
Earlier, in an interview with Bloomberg News, Finance Minister Muhammad Aurangzeb explained, “It’s a bigger canvas that we are looking at in terms of engaging the US. We will constructively engage, and we will have a formal delegation coming in”.
Aurangzeb was in the US to participate in the Spring Meetings of the International Monetary Fund and the World Bank. (ANI)
Disclaimer: This story is auto-generated from a syndicated feed of ANI; only the image & headline may have been reworked by News Services Division of World News Network Inc Ltd and Palghar News and Pune News and World News
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