ISLAMABAD: US President Donald Trump has slapped unprecedented reciprocal tariff over 180 countries, including Pakistan, with Washington hiking tariff on Islamabad’s made-ups by 29 per cent.
Currently, the tariff imposed by the USA on different products from Pakistan ranged from 0-2pc to 29pc; so, after the additional tariff in a few instances, the overall tariff would go up to 58pc. According to the US calculations, Pakistan had imposed an average tariff on the USA in the range of 58pc, so it reciprocated it by slapping 29pc tariff on Pakistan made-ups. The US is the largest trading partner of Pakistan, but its trade balance is in favour of Islamabad.
USA’s major imports in 2024 stood from Mexico to the tune of $509.9 billion, China $462.6 billion, Canada $421.2 billion while its imports from India and Pakistan were standing at $91.2 billion and $5.47 billion, respectively.
Pakistan has to work on a two-pronged strategy: first secure its trade relationship with the USA by exporting more. Secondly, finding new trade markets and destinations for Pakistani products. Trade can go beyond textile and apparels. There is certainly some increase in prices for textiles but there is an opportunity to…
