2 weeks Ago By NEWS WIRE
ISLAMABAD/ KARACHI - Finance Minister Muhammad Aurangzeb has stated that Pakistan has no intention of retaliating against the tariffs imposed by the Donald Trump administration. In an interview with the BBC, the finance minister acknowledged that Pakistan is indeed concerned about the Trump-era tariffs as they have created an atmosphere of uncertainty. “We all need to think about how to move forward in this new world order, and I believe it is essential to engage in dialogue on this matter,” he said.
Responding to a question, Muhammad Aurangzeb clarified that if the question is whether Pakistan plans to respond with countermeasures, the answer is no. Addressing concerns over Pakistan potentially suffering amid the ongoing US-China trade tensions, the finance minister noted that the United States has long been a strategic partner in trade and other sectors, but relations with China are equally important for Pakistan. PSDE’s 3-day seminar “URAAN Pakistan: Growth Through Digital Transformation” to begin tomorrow It is worth noting that last week, former US President Donald Trump announced the imposition of new tariffs on several countries, initially including a 29% tariff on Pakistani exports.
However, following a recent announcement, the implementation of these tariffs has been postponed for 90 days, although all countries will still face a minimum tariff of 10%. Meanwhile, Prime Minister Shehbaz Sharif recently stated that Pakistan will send a high-level delegation to Washington to engage in discussions on tariffs and trade matters. PGRMEA chief coordinator says Pakistan’s textile sector to get benefits from US tariff policy Pakistan’s overall exports, particularly the textile sector, will get benefits from the new US tariff policy.
This was stated by Shaikh Shafiq Jhok Wala, Chief Coordinator Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA), while speaking as a chief guest at the inauguration of 29th Textile Asia 2025 being held at Expo Center, Karachi. Job ruse turns deadly; 4 held for murder The imposition of heavy tariffs on China and other countries by the US administration will create a demand of textile, garments and various products in the American market that will provide an opportunity for Pakistanis companies to grow their exports of textile and garments manifold to this market. He said the changing international trade climate is challenging but it will likely be favorable for Pakistani and its industries and export growth.
He said that the Pakistani government is working to facilitate Chinese and Vietnamese companies to establish their industrial units in special zones of Pakistan and produce made-in-Pakistan made-ups in collaboration with local investors and industries. These companies will export their brands through the land of Pakistan. In this way, Pakistan will grow its exports to up to $35 billion in the next few years with a major contribution of the textile sector.
Model College F-11/3 hosts interactive session on student well-being and holistic growth On the occasion, Project Director Textile Asia Muhammad Uzair Nizam said that the overwhelming participation of foreign delegates and national business leaders in the textile trade fair is testament to an impressive business opportunity and growth in Pakistan. The objective of this trade fair is to enhance the contribution of the textile sector in national GDP through advancement, innovation and development. The session was also attended by foreign diplomats, including Turkey, China, Germany and others.
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