PM Shehbaz thanks Trump for his role in finalising historic US-Pakistan trade deal

Islamabad (Web Desk): Prime Minister Shehbaz Sharif on Thursday expressed gratitude to US President Donald Trump for his vital role in securing what he described as a groundbreaking trade agreement between Pakistan and the United States.

Taking to his X account (formerly Twitter), the premier announced that the deal had been finalised late Wednesday following high-level discussions in Washington.

PM Shehbaz stated that the agreement marks a significant step forward in bilateral relations, strengthening cooperation and paving the way for expanded trade and mutual development. He emphasized that the accord would help build a more enduring partnership and create fresh avenues for economic collaboration in the near future.

I wish to convey my profound thanks to President Trump @realDonaldTrump for his leadership role in finalization of the historic US-Pakistan trade agreement, successfully concluded by our two sides in Washington, last night.
This landmark deal will enhance our growing cooperation…

— Shehbaz Sharif (@CMShehbaz) July 31, 2025

President Trump, through a statement posted on his Truth Social platform, confirmed the agreement and shared further details. He noted that both nations had committed to jointly developing Pakistan’s untapped oil reserves. Trump added that deliberations were already underway to select a major oil corporation to lead this joint initiative. He also hinted at the possibility that the extracted oil could eventually be exported to India.

In a related move, Trump’s earlier trade policies were back in the spotlight after the US imposed a 25% tariff, along with other restrictions, on imports from India, effective August 1.

He criticized India for what he described as excessive tariffs and restrictive non-tariff measures that have historically hindered trade between the two countries.

This new pact between Pakistan and the US signals a potential shift in regional economic alliances, particularly in the energy sector. Both leaders voiced optimism that this agreement could bolster economic growth and deepen the strategic ties between their nations moving forward.