Maybe, Pakistan Will Sell Oil To India Someday: Trump After Striking Deal With Islamabad

US President Donald Trump on Thursday announced a massive oil deal with Pakistan. This comes shortly after imposing a 25% tariff on Indian imports, citing trade imbalances and India's Russian oil purchases.

In a statement on his social media platform Truth, Trump stated that Islamabad might sell oil to New Delhi someday.

Trade Discussions and Tariff Adjustments

In the Truth Social post, Trump said, "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. 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 some day!" Trump stated.

He also mentioned ongoing talks with various global leaders about trade deals. He highlighted that many countries are eager to please the US. "We are very busy in the White House today working on Trade Deals," he stated. Trump also noted an upcoming meeting with South Korea's trade delegation regarding their current 25% tariff.

The US is actively negotiating tariff reductions with several nations. Trump emphasized that these efforts aim to significantly lower the US trade deficit. "Likewise, other Countries are making offers for a Tariff reduction," he added. A comprehensive report will be released later.'

Focus on Agriculture and Market Access

Agriculture and dairy sectors remain contentious between India and the US. The US seeks more access for its agricultural products like apples and tree nuts in India to address trade imbalances. Richard Rossow from Washington's Center for Strategic and International Studies noted India's need to protect its agriculture sector for economic reasons.

India, in exchange for any concessions, wants preferential access for its labor-intensive exports. These include textiles, garments, gems, jewelry, leather goods, and specific agricultural items such as shrimp and bananas. Such access is vital for job creation in India.

The new tariffs on Indian imports will take effect from August 1. Trump's decision stems from concerns over Washington's trade deficit with New Delhi and India's purchase of Russian oil.

It has to be noted that a cryptocurrency venture connected to Trump's family signed a high-stakes deal with Pakistan's Crypto Council in April. The deal was formalised just days after the Pahalgam attack in Kashmir in which 26 civilians were killed.

Trump's sons Eric and Donald Jr. hold a majority stake in the World Liberty Financial (WLF), a blockchain investment firm which signed a preliminary agreement with the Pakistan Crypto Council in April, according to a report in The Times of India.