Pakistan hit with 19% tariff as Trump announces new duties for dozens of countries

Washington (Web Desk): US President Donald Trump has announced tariffs for numerous trade partners, including a revised duty on Pakistani products. The new tariff rate stands at 19%, reduced from the earlier 29%, and was announced just a day after Washington and Islamabad finalized a bilateral trade agreement.

The new tariff rate was formalized through an executive order issued by the US president as part of a broader realignment of trade relations, coinciding with a strict August 1 deadline for countries to negotiate new deals or face elevated import duties.

Just a day before the new tariff rate was announced, President Trump revealed on his Truth Social platform that the US and Pakistan had reached an agreement to jointly develop Pakistan’s oil reserves. He described the deal as a major step forward in economic cooperation, highlighting the potential of Pakistan’s untapped energy resources and the mutual benefits of such a partnership.

Under the new tariff framework, Pakistan now enjoys a lower import duty compared to several neighboring countries. India faces a 25% tariff, Bangladesh and Vietnam are both subject to 20%, Iraq stands at 35%, and Indonesia matches Pakistan at 19%. While Pakistan's 19% rate is still substantial, it offers a comparative edge in maintaining export volumes to the American market amid a protectionist shift in US trade policy.

The executive order outlines increased import taxes on 69 trading partners, with tariffs ranging from 10 to 41% taking effect within seven days of the order’s issuance. Nations such as Brazil and Canada were hit with particularly steep rates, at 50% and 35% respectively.

Switzerland and Taiwan also saw hikes, with tariffs set at 39% and 20%. Countries that did not finalize agreements by the deadline will now be subject to these higher rates, although some exemptions were made for goods already en route to the US within the coming week.

This tariff overhaul reflects the Trump administration’s strategy to push for trade deals aimed at reducing deficits and bolstering American manufacturing. The White House has indicated that further agreements may soon be unveiled, as part of its ongoing effort to reshape global trade dynamics in line with US economic interests.