News
April 11, 2025
Pakistan Calls for Win-Win Solution to US Tariffs Issue
Islamabad: With US President Donald Trump announcing a 90-day pause on “reciprocal” tariffs, Foreign Office Spokesperson Shafqat Ali Khan on Thursday emphasized a mutually beneficial resolution of the matter for Islamabad and Washington.
Addressing the weekly press briefing, the FO spokesperson said that Pakistan was following the issue of tariff imposition by the US and the recent suspension on most of the countries.
He said that considering the interconnected nature of global trade, the tariff imposition could have a far-reaching impact and stressed the need for a mutually beneficial resolution of the matter.
Following days of global market turmoil, President Trump on Wednesday said he would pause many of his new tariffs for 90 days, even as he raised them further on imports from China.
"I have authorized a 90-day PAUSE" on higher tariffs that took effect on Wednesday, Trump said on his Truth Social network, saying he took the decision after more than 75 countries had reached out to negotiate and did not retaliate against the United States.
Pakistan will send a delegation to the US in the coming weeks to negotiate new tariffs, the government said in an announcement before President Trump announced a delay to the measures, reported AFP.
Fears of the fallout remain, and if things do not work out, the textile sector, which comprises more than half of exports to the US, is expected to bear the brunt of the impact. With US consumers highly price-sensitive, Tabadlab projects demand could decline by at least 13% by FY2025-26. If Pakistan loses both market share and demand, export losses could balloon to $2.17 billion in a worst-case scenario.
“These tariffs may erase recent gains in exports across key sectors, undermining current account stability and compounding an already fragile economic outlook,” the report warned … – The News
Courtesy The News
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