Pakistan to discuss tariffs the US following Trump’s announcement

WEB DESK: Pakistan is set to engage in discussions with the US officials regarding tariffs following US President Donald Trump’s announcement of heavy tariffs on a list of countries.

The development comes on the heels of Trump’s recent declaration of substantial tariffs on several countries, including Pakistan, China, India and Turkey.

The controversial leader imposed a 29 per cent tariffs on Pakistani goods, set to take effect from April 9.

Trump’s tariff ‘strategy’ is part of a broader initiative that includes a 34 per cent tax on imports from China and a 20 per cent tax on products from the European Union, among others.

Read more: Mengal to announce next phase of protest tomorrow amid crackdown

The controversial policy targeted US allies and rivals, both, with the Japanese Prime Minister, a long-time US ally, warning that the move will impact the relations between the two countries.

Trump claims his policy is aimed at ‘rectifying’ an ‘economic crisis’, targeting states that maintain significant trade surpluses with the United States.

According to a report by the Assassinated Press (AP), the tariffs are expected to disrupt global trade patterns and could lead to increases costs for the average US consumer on essential items.

The ramifications of these tariffs could extend to other countries, as well, with Indian exported heavily affected. Trump announced 26 per cent tariffs for Indian goods, lower than those imposed on China and other Asian competitors.

Unlike other countries, however, economists have predicted that the tariffs could open avenues for new business opportunities for Indian businesses.