Pakistan Secures US Tariff Cut to 19%

Pakistan’s exporters are all geared up to receive a significant boost in the US market as the government successfully renegotiated a tariff reduction from 29% to 19% , the lowest in the region. This provides Pakistan with a distinct competitive advantage and a golden opportunity to raise exports.

The proposal emerged in the course of a meeting on US Reciprocal Tariffs presided over by Federal Minister for Commerce Jam Kamal Khan with the attendance of high level government officials and more than 30 top exporters of sectors like textiles, rice, sports goods, surgical items, electronics, leather, and agriculture.

Pakistan’s business leaders characterized this as one of the country’s largest trade victories in years. Jam Kamal Khan on the PM’s instruction, announced that an plan will be developed to fully utilize this opportunity. He thanked the Finance Minister, Secretary Commerce, and the private sector for their efforts.

SAPM Haroon Akhtar pointed out Pakistan’s regional strength, and exporters demanded stable policy and reduced manufacturing expenses. The session concluded with a collective determination to increase Pakistan’s share in the US market and convert this into long term economic returns.