Shehbaz Sharif REACTS to Pakistan-US trade agreement, thanks Donald Trump for 'leadership role', says...

Pakistan Prime Minister Shehbaz Sharif on Thursday, i.e., July 31, thanked US President Donald Trump for his "leadership role" in finalising what he called a "landmark trade agreement" between the two nations. In a post on 'X', Sharif said that the "landmark deal" would boost bilateral cooperation and “expand the frontiers of our enduring partnership in days to come.”

“I wish to convey my profound thanks to President Trump for his leadership role in finalization of the historic US-Pakistan trade agreement, successfully concluded by our two sides in Washington last night,” wrote the Pakistan PM in a post on 'X'. 

US-Pakistan trade deal 

US President Donald Trump, a day after declaring a 25 percent tariff on Indian goods entering the States, announced sealing a trade deal with Islamabad to develop what he described as the South Asian nation's “massive oil reserves”. However, it remains unclear what "massive oil reserves" he was referring to. 

“We have just concluded a deal with the country of Pakistan, whereby Pakistan and the United States will work together on developing their massive oil reserves," Trump said in a post on Truth Social. The US President further added that "maybe Pakistan would be selling oil to India someday". 

"We are in the process of choosing the oil company that will lead this partnership. Who knows, maybe they’ll be selling oil to India someday!” he said. 

US-India trade deal 

US President Donald Trump on Wednesday, i.e., July 30, took to social media platform Truth Social to announced the tariff rate to be imposed on India from August 1. Trump announced a “25 per cent tariff plus penalty” on India. “

"Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country".

The US President cited India’s trade ties with Russia as a reason to impose a penalty on New Delhi. “Also, they have always bought a vast majority of their military equipment from Russia, and are Russia's largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE - ALL THINGS NOT GOOD! INDIA WILL THEREFORE BE PAYING A TARIFF OF 25%, PLUS A PENALTY FOR THE ABOVE, STARTING ON AUGUST 1st. THANK YOU FOR YOUR ATTENTION TO THIS MATTER. MAGA!"

However, Trump did not mention what exactly the penalty would entail.