Trump announces US, Pakistan reach oil deal in trade breakthrough

US President Donald Trump announced on Truth Social that the United States has reached an agreement with Pakistan to collaborate on the development of Pakistan’s oil reserves. 

According to Trump, the two countries are now in the process of selecting an oil company to lead the partnership, Caliber.Az reports. 

“We have just concluded a deal with the country of Pakistan, whereby Pakistan and the United States will work together on developing their massive oil reserves,” Trump wrote. “We are in the process of choosing the oil company that will lead this partnership. Who knows, maybe they’ll be selling oil to India someday!”

Trump also claimed that other countries are making offers for tariff reductions as part of ongoing trade discussions ahead of the approaching August 1 deadline. 

“All of this will help reduce our trade deficit in a very major way,” he added, promising that a full report on these developments would be released at “the appropriate time.”

Trump’s announcement comes amid a broader push to reshape US trade relationships. In April, he introduced reciprocal tariffs of up to 50 per cent on nearly 60 trading partners. The tariffs were initially scheduled to take effect on July 9, but Trump postponed implementation to allow time for countries to negotiate alternative trade deals.

Despite the delay, when questioned by a reporter during a Cabinet meeting about why the deadline had been extended to August 1, Trump insisted that had always been the plan.

By Sabina Mammadli