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Trump announces trade agreement with Pakistan

VB Desk,  International

VB Desk, International

US President Donald Trump announced that his administration has reached a trade agreement with Pakistan. Talks are also underway with several other countries, with Trump aiming to finalize these deals by August 1.

In a statement posted on social media Wednesday, Trump revealed that the agreement with Pakistan includes joint development of the country’s “vast” oil resources. “We are currently selecting an oil company to lead this partnership. Who knows, maybe one day they will export oil to India,” he said, though detailed terms of the agreement were not immediately disclosed.

The announcement came ahead of Trump’s planned meeting with a South Korean delegation at the White House on Wednesday, as the administration intensifies efforts to secure multiple trade deals.

“Other countries are also proposing tariff reductions, which will significantly reduce the US trade deficit,” Trump stated. He added that a comprehensive report on these developments would be released in due course.

Earlier, Trump set a deadline of August 1 for countries to finalize trade agreements with the US, warning that those who fail to do so could face tariffs higher than the current 10 percent rate.

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