ISLAMABAD: Pakistan’s Finance Minister Muhammad Aurangzeb has said the country will not take retaliatory measures in response to trade tariffs imposed by US President Donald Trump, despite concerns over their potential impact on Pakistan’s economy.
The finance minister, during an interview with the BBC, added that Pakistan is indeed concerned about the Trump tariffs as they have caused 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.
In response to a question, Muhammad Aurangzeb clarified that Pakistan does not intend to take any countermeasures.
Addressing concerns about the impact of ongoing US-China trade tensions on Pakistan, the finance minister emphasised that while the United States has been a long-standing strategic partner in trade and other areas, Pakistan also places great importance on its relationship with China.
It is pertinent to mention 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, after a recent announcement, the implementation of these tariffs has been delayed or 90 days, although all countries will still face a minimum tariff of 10%.
Meanwhile, Prime Minister Shehbaz Sharif recently said that Pakistan will send a high-level delegation to Washington to engage in discussions on tariffs and trade matters.
Prominent business figures and exporters will also be included in the delegation, which will depart to Washington soon.
Pakistan’s Foreign Office Spokesperson Shafqat Ali Khan on Thursday warned that the imposition of tariffs by the United States can have far-reaching effects, particularly on developing countries, and called for a swift and mutually beneficial resolution to the issue.
He hoped for a swift and mutually beneficial resolution of this issue.
