<p>Amid global tension on tariffs chaos, Pakistan and the United States are pressing forward with discussions on a new trade and investment framework, after Islamabad secured what it calls the lowest tariff rate among major South Asian economies. Speaking to Bloomberg TV, Pakistan’s Minister of State for Finance Bilal Azhar Kayani said that the Prime Minister Shehbaz Sharif’s government is seeking improved tariff terms on certain exports as part of the ongoing negotiations. The talks aim to finalise investment provisions alongside the trade deal, which was agreed in principle last month.</p><h2><strong>Tariff win boosts Islamabad’s negotiating position</strong></h2><p>As per Bloomberg, Pakistan reached the agreement with Washington at a 19 per cent tariff rate, lower than that of its regional peers. The development comes amid an upswing in bilateral relations, underscored by a rare meeting at the White House between US President Donald Trump and Pakistan’s army chief, General Asim Munir, who is making his second visit to the US in just a few months.</p><h2><strong>Oil partnership on the horizon</strong></h2><p>Announcing the trade pact last month, President Trump said the US would also work with Pakistan to tap what he described as the country’s “massive oil reserves.” According to Bloomberg, Washington is in the process of selecting a US oil company to lead the partnership.</p><h2><strong>Strategic reset in ties</strong></h2><p>The trade negotiations reflect a broader warming of the US–Pakistan relations after years of strained ties. Analysts see the tariff concession and potential energy cooperation as signs of a strategic reset, with Islamabad hoping to boost foreign investment and diversify its export markets.</p><p>&nbsp;</p><p>If finalised, the US agreement could mark one of Pakistan’s most significant economic wins in recent years, potentially opening the door for expanded trade flows, energy development, and deeper geopolitical engagement with Washington.</p><p>&nbsp;</p><p><i>(With inputs from the agencies)</i></p>

The deal aims to enhance investment and trade, reflecting improved bilateral relations and potential energy cooperation. The trade negotiations reflect a broader warming of the US–Pakistan relations after years of strained ties. 

Amid global tension on tariffs chaos, Pakistan and the United States are pressing forward with discussions on a new trade and investment framework, after Islamabad secured what it calls the lowest tariff rate among major South Asian economies. Speaking to Bloomberg TV, Pakistan’s Minister of State for Finance Bilal Azhar Kayani said that the Prime Minister Shehbaz Sharif’s government is seeking improved tariff terms on certain exports as part of the ongoing negotiations. The talks aim to finalise investment provisions alongside the trade deal, which was agreed in principle last month. Tariff win boosts Islamabad’s negotiating position As per Bloomberg, Pakistan reached the agreement with Washington at a 19 per cent tariff rate, lower than that of its regional peers. The development comes amid an upswing in bilateral relations, underscored by a rare meeting at the White House between US President Donald Trump and Pakistan’s army chief, General Asim Munir, who is making his second visit to the US in just a few months. Oil partnership on the horizon Announcing the trade pact last month, President Trump said the US would also work with Pakistan to tap what he described as the country’s “massive oil reserves.” According to Bloomberg, Washington is in the process of selecting a US oil company to lead the partnership. Strategic reset in ties The trade negotiations reflect a broader warming of the US–Pakistan relations after years of strained ties. Analysts see the tariff concession and potential energy cooperation as signs of a strategic reset, with Islamabad hoping to boost foreign investment and diversify its export markets. If finalised, the US agreement could mark one of Pakistan’s most significant economic wins in recent years, potentially opening the door for expanded trade flows, energy development, and deeper geopolitical engagement with Washington. (With inputs from the agencies)

<p>Pakistan and the US are negotiating a new trade and investment framework, with Islamabad securing a 19% tariff rate, the lowest in South Asia.</p>

Pakistan, US in final stretch of trade deal talks after 19% tariff win

<p>South Korea and Vietnam have set an ambitious target to nearly double their bilateral trade to $150 billion annually by 2030. The announcement was made during a high-profile summit between South Korean President Lee Jae Myung and Vietnamese Communist Party chief To Lam in Seoul on August 11. The two leaders emphasised the importance of their growing economic ties, particularly as both nations face challenges from global trade uncertainties, including US tariffs.</p><p>President Lee highlighted that Vietnam is a “very important neighbouring country” for South Korea, not only for trade but also for security. “We agreed to accelerate the mutually beneficial economic cooperation that has served as a solid foundation for our bilateral relations,” Lee said. Lam’s visit marks the first by a foreign leader to South Korea since Lee took office in June, underscoring the strategic significance of their partnership.</p><h2><strong>Key areas of collaboration and infrastructure development</strong></h2><p>The two leaders discussed strengthening cooperation in key sectors, including critical minerals, national defence, and infrastructure development. South Korean companies, particularly in the fields of technology and heavy industry, are expected to play a crucial role in major Vietnamese projects such as city construction, high-speed railways, and nuclear power plants.</p><p>Vietnam is already South Korea's largest investor, with over 10,000 registered investment projects worth a total of $94 billion. Bilateral trade between the two nations reached $81.5 billion in 2024, a 7.3 per cent year-over-year increase. The countries plan to sign at least 10 memoranda of understanding during this summit, covering areas such as nuclear and renewable energy, financial policies, and science and technology.</p><h2><strong>Facing trade challenges amid US tariffs</strong></h2><p>The growing trade ties between South Korea and Vietnam come at a time of heightened uncertainty due to recent US tariffs on both nations. The Trump administration has imposed a 15 per cent tariff on South Korean exports and a 20 per cent tariff on Vietnamese goods. Both countries are seeking ways to mitigate the impact of these tariffs, which have raised concerns about future business prospects.</p><p>Despite these challenges, the strategic cooperation between the two countries is expected to remain strong. Vietnamese officials have pointed to an increasing focus on areas like semiconductors and artificial intelligence as new opportunities for collaboration. South Korean companies, such as Samsung Electronics, have long used Vietnam as a key export hub, benefiting from lower labour costs and favourable tax policies. The leadership summit is seen as a step toward solidifying these business relationships and fostering new investments in infrastructure and energy sectors.</p>

South Korea and Vietnam plan to sign at least 10 memoranda of understanding during this summit, covering areas such as nuclear and renewable energy, financial policies, and science and technology.

South Korea and Vietnam have set an ambitious target to nearly double their bilateral trade to $150 billion annually by 2030. The announcement was made during a high-profile summit between South Korean President Lee Jae Myung and Vietnamese Communist Party chief To Lam in Seoul on August 11. The two leaders emphasised the importance of their growing economic ties, particularly as both nations face challenges from global trade uncertainties, including US tariffs. President Lee highlighted that Vietnam is a “very important neighbouring country” for South Korea, not only for trade but also for security. “We agreed to accelerate the mutually beneficial economic cooperation that has served as a solid foundation for our bilateral relations,” Lee said. Lam’s visit marks the first by a foreign leader to South Korea since Lee took office in June, underscoring the strategic significance of their partnership. Key areas of collaboration and infrastructure development The two leaders discussed strengthening cooperation in key sectors, including critical minerals, national defence, and infrastructure development. South Korean companies, particularly in the fields of technology and heavy industry, are expected to play a crucial role in major Vietnamese projects such as city construction, high-speed railways, and nuclear power plants. Vietnam is already South Korea's largest investor, with over 10,000 registered investment projects worth a total of $94 billion. Bilateral trade between the two nations reached $81.5 billion in 2024, a 7.3 per cent year-over-year increase. The countries plan to sign at least 10 memoranda of understanding during this summit, covering areas such as nuclear and renewable energy, financial policies, and science and technology. Facing trade challenges amid US tariffs The growing trade ties between South Korea and Vietnam come at a time of heightened uncertainty due to recent US tariffs on both nations. The Trump administration has imposed a 15 per cent tariff on South Korean exports and a 20 per cent tariff on Vietnamese goods. Both countries are seeking ways to mitigate the impact of these tariffs, which have raised concerns about future business prospects. Despite these challenges, the strategic cooperation between the two countries is expected to remain strong. Vietnamese officials have pointed to an increasing focus on areas like semiconductors and artificial intelligence as new opportunities for collaboration. South Korean companies, such as Samsung Electronics, have long used Vietnam as a key export hub, benefiting from lower labour costs and favourable tax policies. The leadership summit is seen as a step toward solidifying these business relationships and fostering new investments in infrastructure and energy sectors.

<p>South Korea and Vietnam plan to sign at least 10 memoranda of understanding during this summit, covering areas such as nuclear and renewable energy, financial policies, and science and technology.</p>

South Korea and Vietnam aim to boost bilateral trade to $150 billion by 2030

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Pakistan, US in final stretch of trade deal talks after 19% tariff win

South Korea and Vietnam aim to boost bilateral trade to $150 billion by 2030