Pakistani Foreign Minister Ishaq Dar recently stated that Pakistan is “very close” to finalizing a trade agreement with the U.S. ahead of an important August 1 deadline set by President Donald Trump.
This deadline concerns the implementation of the so-called “Liberation Day” tariffs.
Dar shared this update during a speech at the Atlantic Council think tank, revealing ongoing discussions with the U.S. government.
He mentioned meetings with Secretary of State Marco Rubio and described the talks as well advanced. According to Dar, the two countries’ teams have been working both in Washington and virtually to refine the details of the deal.
“Our teams have been here in Washington, discussing, having virtual meetings,” Dar said. “A committee has been tasked by the prime minister to fine-tune now.” He added that a deal was imminent, estimating that finalization could occur within days rather than weeks or months.
The “Liberation Day” tariffs were announced by Trump as part of his broader trade policy overhaul during his second term.
Since unveiling these tariffs, many countries have rushed to negotiate agreements to avoid or reduce the new import levies, per the New York Post.
Trump has repeatedly postponed the enforcement of most of these tariffs, with the most recent deferral set for August 1. This extension aims to provide more time for diplomatic and trade negotiations to reach a resolution.
So far, Trump has secured tariff deals with several key nations, including the United Kingdom, Vietnam, Japan, Indonesia, and the Philippines.
His administration also reached a tariff truce with China, although that agreement comes with a slightly later deadline of August 12 to finalize a broader trade deal.
Currently, the baseline tariff rate imposed by President Trump stands at 10% on almost all imports into the U.S. Specific tariffs remain higher in certain categories, including a 25% rate on automobiles, aluminum, and steel.
Additionally, 25% tariffs are applied on some imports from Canada and Mexico that do not comply with the United States-Mexico-Canada Agreement (USMCA).
Trade between the U.S. and Pakistan totaled roughly $7.3 billion last year, according to figures from the Office of the U.S. Trade Representative.
Both the State Department and Pakistani officials confirmed that trade discussions are ongoing, though they have not disclosed a precise timeline for a deal’s conclusion.
The U.S. State Department did not immediately respond to requests for comment on the status of these talks.
Earlier this year, tensions flared between India and Pakistan following a terrorist attack in the Pahalgam region near India-administered Jammu and Kashmir. This attack led to a series of retaliatory missile strikes between the two nuclear-armed neighbors.
President Donald Trump has publicly credited himself with helping to mediate the conflict and encouraging a ceasefire between India and Pakistan, which was announced in May.
Last month, Pakistan revealed plans to nominate President Trump for the Nobel Peace Prize in recognition of his “decisive diplomatic intervention” during the conflict with India.
The decades-long Kashmir dispute between India and Pakistan remains a highly sensitive and potentially volatile issue, particularly due to the nuclear capabilities of both countries.
With the trade talks nearing a conclusion and diplomatic tensions easing, Pakistan’s government appears optimistic about strengthening ties with the United States under President Trump’s administration.
