KARACHI: United States President Donald Trump announced on Wednesday the imposition of reciprocal tariffs on several countries, including a 29% tariff on Pakistani products, a move widely seen as a jolt to the global economy still recovering from the COVID-19 pandemic.
The decision came after Trump defended the measures as necessary to address long-standing trade imbalances and what he described as unfair treatment of American goods abroad.
The US leader has called for realigning trade with both allies and competitors since taking office, arguing that high tariffs imposed by partner countries have effectively subsidized their economies at America’s expense.
According to a list of tariffs shared by Reuters, Trump has imposed a 29% tariff on Pakistan.
“Pakistan has been charging us a 58% tariff on our goods,” he was quoted as saying by Geo TV. “Hence, we are imposing a 29% tariff on their products.”
The US remains one of Pakistan’s largest trading partners.
According to the Office of the United States Trade Representative, total goods trade between the US and Pakistan was estimated at $7.3 billion in 2024. US exports to Pakistan reached $2.1 billion, marking a 4.4% increase from the previous year, while imports from Pakistan totaled $5.1 billion, up 4.9% compared to 2023.
Alongside Pakistan, the US has also slapped a 26% reciprocal tariff on India, in a blow to New Delhi’s expectations of tariff relief.
“In many cases, the friend is worse than the foe in terms of trade,” Reuters quoted Trump as saying during the announcement. “We subsidize a lot of countries and keep them going and keep them in business. Why are we doing this? I mean, at what point do we say you got to work for yourselves.”
“We are finally putting America first,” he added, calling trade deficits “a national emergency.”
Trump held up boards displaying the new tariff rates, ranging from 10% to 49% for most countries. He said that in most cases, the US was imposing about half the tariff rates that other countries charge, though in some instances the rates were matched exactly.
With input from Reuters
Trump targets Pakistan with 29 percent tariff as part of new trade policy
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Trump targets Pakistan with 29 percent tariff as part of new trade policy
- US is a key market for Pakistani exports, with bilateral trade estimated at $7.3 billion in 2024
- US has also slapped a 26% reciprocal tariff on India, dashing New Delhi’s hopes of tariff relief
Pakistan engages Saudi Arabia, China in bid to ease surging Middle East tensions
- Pakistan’s foreign minister stresses need for de-escalation in conversations with Chinese, Saudi counterparts
- Tensions in the Middle East continue to remain high as conflict between US, Israel and Iran intensifies
ISLAMABAD: Pakistan’s Deputy Prime Minister Ishaq Dar spoke to the foreign ministers of Saudi Arabia and China on Tuesday, stressing the importance of diplomatic engagement to de-escalate tensions in the Middle East as the Iran war intensifies.
Pakistan has constantly engaged regional countries in efforts to broker a ceasefire in the Middle East, after the US and Isreal launched coordinated strikes against Iran on Feb. 28.
Iran launched fresh attacks on Gulf countries on Tuesday morning, where it has targeted US military bases in recent weeks. In addition to firing missiles and drones at Israel and American bases in the region, Iran has also been targeting energy infrastructure which, combined with its stranglehold on the Strait of Hormuz, has sent oil prices soaring worldwide.
Dar spoke to Saudi Foreign Minister Prince Faisal bin Farhan to discuss developments in the Middle East and ongoing deliberations at the UN Security Council, Pakistan’s foreign office said in a statement.
“DPM/FM shared Pakistan’s perspective, underscoring the importance of continued coordination and diplomatic engagement to support de-escalation and promote peace and stability across the region and beyond,” the statement said.
Dar, who also serves as Pakistan’s foreign minister, spoke to Chinese foreign minister Wang Yi over the telephone separately. The two discussed the evolving regional situation and broader global developments.
Dar underscored the need to ease tensions in the Middle East and the wider region during the conversation, the foreign office said.
Yi appreciated Pakistan’s constructive efforts aimed at promoting de-escalation and stability in the region, it added.
“The two leaders stressed the importance of de-escalation and emphasized the need to pursue dialogue and diplomacy in accordance with the principles of the UN Charter,” the foreign office’s statement said.
The conflict in the Middle East has hit Pakistan hard as well, forcing Islamabad to hike petrol and diesel prices by Rs55 per liter last Friday.
Pakistan’s government has also announced a set of austerity measures, which include closing schools and cutting down on government expenditures, as it evaluates petrol stocks and looks for alternative supply routes.
