Pakistan’s Finance Minister Travels to Washington for Trade and Tariff Negotiations

WASHINGTON: Finance Minister Muhammad Aurangzeb is scheduled to arrive in Washington on Saturday for a three‑day visit, during which he will meet with U.S. officials to discuss trade, finance and investment as Pakistan and the United States pursue a comprehensive bilateral economic partnership, according to diplomatic sources cited by Dawn.

The sources indicate that Aurangzeb will meet with officials from the Office of the United States Trade Representative (USTR), the Export‑Import Bank of the United States, the U.S. International Development Finance Corporation (DFC), and the International Monetary Fund (IMF).

A central focus of the visit will be the framework of a potential bilateral trade agreement designed to expand trade and investment between the two nations, with expected coverage of tariffs, market access, investment opportunities, and broader economic cooperation.

Meetings with the Export‑Import Bank and the DFC are also expected to explore financing options for infrastructure, energy, and private‑sector investment projects.

Aurangzeb’s visit follows ongoing Pakistani‑U.S. negotiations that began in Washington last week concerning tariffs on Pakistani exports and a broader trade agreement.

The latest round builds on months of negotiations over the global tariff regime announced by U.S. President Donald Trump on April 2 2025 under the International Emergency Economic Powers Act (IEEPA), which initially imposed a 29 % tariff on Pakistani exports.

A Pakistani delegation that visited Washington in July 2025 successfully persuaded U.S. officials to lower the proposed tariff from 29 % to 19 %.

Subsequent to a U.S. Supreme Court ruling earlier this year that invalidated the IEEPA‑based tariffs, the Trump administration invoked Section 122 of the Trade Act to impose a temporary global tariff of 10 % effective until July 24, when the 150‑day statutory period expires.

Pakistan is among nearly 60 nations subject to USTR investigations under Section 301 for alleged forced‑labour and related trade practices, and Islamabad has submitted detailed responses — including an additional submission this week — ahead of the latest negotiations.

Under the ongoing Section 301 process, Pakistan faces a proposed additional 10 % tariff, whereas India and 53 other countries face proposed tariffs of 12.5 % each, with public hearings before the USTR continuing.

Beyond tariffs, the two sides are also expected to discuss measures to broaden bilateral trade and investment.

Aurangzeb last visited Washington in April to attend the IMF and World Bank Spring Meetings, where he conducted more than 50 meetings with international financial institutions, investors, and rating agencies to present Pakistan’s economic reform programme and efforts to restore macroeconomic stability.

During that visit, he briefed investors on Pakistan’s plans to re‑enter international capital markets via Panda Bonds and Eurobonds after several years, and met with U.S. Treasury officials and representatives of multilateral institutions to discuss Pakistan’s response to regional tensions and volatility in global energy markets stemming from the Iran conflict.

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