Tariff deal with US to boost exports: Finance ministry

The new tariff agreement between Pakistan and the US is expected to enhance market access, strengthen trade flows and boost exports from various sectors, thereby contributing to economic growth, the Ministry of Finance said on Friday.

In a press statement, the ministry expressed satisfaction over the successful conclusion of tariff-related discussions with the US, adding that as a result of talks 19% tariffs would be applicable to Pakistan’s export goods entering the US market.

“This decision reflects a balanced and forward-looking approach by the US authorities, keeping Pakistan competitive relative to other South and Southeast Asian countries,” it said. “The Ministry of Finance, in close coordination with relevant stakeholders, believes that the current tariff arrangement presents a significant opportunity to expand Pakistan’s footprint in the US market,” the statement said, adding that it was essential for Pakistani exporters and trade bodies to adopt a focused marketing strategy to capitalise on the development.

In addition to textile, there was substantial potential for growth in other sectors, it said, stressing that the government was committed to facilitating exporters through policy support, market intelligence and trade promotion initiatives.

The ministry expressed hope about further positive engagements and close cooperation with the US in the areas of investment, AI, cryptocurrency, mines and minerals, energy and other emerging sectors.