US and Pakistan Finalize Trade Agreement to Develop Oil Reserves and Reduce Tariffs

The United States and Pakistan have finalized a trade agreement aimed at developing Pakistan's oil reserves and reducing bilateral tariffs. The deal was announced on July 30, 2025, following discussions between Pakistani Finance Minister Muhammad Aurangzeb and U.S. officials, including Commerce Secretary Howard Lutnick and Trade Representative Ambassador Jamieson Greer. The agreement is expected to boost bilateral trade, expand market access, attract investment, and foster cooperation in areas of mutual interest. The specifics of the oil exploration sites have not been disclosed, but the partnership is anticipated to lead to increased U.S. investment in Pakistan's infrastructure and development projects. The deal also includes a reduction in reciprocal tariffs, particularly on Pakistani exports to the U.S... enhancing Pakistan's access to the U.... Prime Minister Shehbaz Shar... agreement, thanking President Donald Trump for his role in finalizing the deal. The trade agreement reflects both nations' commitment to....