Just a day after unveiling what he called a “landmark energy partnership” with Pakistan, US President Donald Trump has slashed tariffs on Pakistani goods from 29% to 19%.
The revised duty is part of the sweeping “Liberation Day” tariff package announced via executive order on Thursday, set to take effect on August 7.
Energy Deal and Tariff Adjustment
Trump said the new deal focuses on the joint development of Pakistan’s “massive oil reserves” — though he did not specify which reserves he was referring to. The agreement also includes Pakistan importing US crude oil, marking a significant shift from its reliance on Middle Eastern suppliers.
Pakistan’s largest refiner, Cnergyico, will import 1 million barrels of West Texas Intermediate (WTI) crude from global trader Vitol in October, according to vice chairman Usama Qureshi.
Trump has suggested the partnership could expand to the point where Pakistan exports oil to India.
Part of Wider Tariff Overhaul
The White House on Thursday revised tariff rates for dozens of countries, with duties ranging from 10% to 41%. India faces a 25% rate, Taiwan 20%, and South Africa 30%.
Thailand, Cambodia, Indonesia, and the Philippines — along with Pakistan — were given a 19% rate after last-minute negotiations. Goods found to be transshipped to evade higher duties will face additional penalties.
Some major trading partners, including China, Canada, and Mexico, remain under separate tariff frameworks.
