Trump reveals Pakistan’s trade contract in tariff debate with Asia
The “Mornings With Maria” panel discusses a new report from the Council of Economic Advisors, showing that import prices have been falling since President Donald Trump’s second term, contradicting the claim that tariffs are responsible for fuel inflation.
President Trump announced on Wednesday It’s the United States A trade agreement with Pakistan has been reached. In Pakistan, the two countries will work together to develop the oil reserves of South Asian countries.
“We have signed a deal with the Pakistan country, which will help Pakistan and the US to help develop their large oil reserves.” Trump said Wednesday’s Truth Social Post. “We are in the process of choosing an oil company that will lead this partnership. Perhaps they will sell oil to India one day!”
The announcement comes days after Secretary of State Marco Rubio’s meeting with Pakistan’s Foreign Minister Ishak Dal. Following the meeting, Dah said Trade Contract The US was “very close,” but Washington officials did not provide a timeline.
US President Donald Trump will speak before signing the VA Mortgage Program Reform Act in the Roosevelt Room in the White House in Washington, DC on July 30, 2025. (Jim Watson/AFP via Getty Images/Getty Images)
“I think we’re very close to finalizing our deal with the US,” Dar told Atlantic Council think tank on Friday. “Our team is here In Washingtondiscuss, hold virtual meetings and committees are entrusted with tweaking right now by the Prime Minister. ”
Trump announces 25% tariffs in South Korea’s Japan
In the Truth Social Post Wednesday, Trump also said that afternoon he will meet with South Korean officials to discuss a deal that will lower the Asian country’s plan 25%. Customs duties on products Imported to the US
On July 25th, 2025, Secretary of State Marco Rubio, Deputy Prime Minister Pakistan and Ishak Dal shook hands for photographers gathered at the State Department in Washington, DC. (Reuters/Reuters Photos)
“South Korea is currently at 25% tariffs, and there are offers to buy those tariffs,” Trump said. “I’m interested in hearing what the offer is.”
Complete timeline of Trump’s tariff implementation strategies around the world
Earlier this month, Trump announced that the US would impose a 25% tariff on goods imported from Japan and South Korea. The new taxation will come into effect on August 1st. If either Japan or South Korea raises tariffs in retaliation, Trump said US tariffs would increase by the same amount.
The American and Korean flags hang together in Yonggin, South Korea on August 23, 2016. (via photos by Ken Scar/US military/Reuters/Reuters)
Trump concluded Wednesday’s true social post by noting that other countries are making offers to the US to lower tariff rates.
“In the same way, other countries are offering to cut tariffs,” he said. “This all helps reduce the trade deficit in a very large way. The full report will be released at the right time. Thank you for keeping this issue in mind. Make America great again!”
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The White House did not immediately respond to Fox Business’s request for comment.
Landon Mion and Eric Revell from Fox Business contributed to this report.