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KARACHI: Pakistan and the United States have agreed to move forward with negotiations aimed at finalizing a trade deal “at the earliest,” as Finance Minister Muhammad Aurangzeb and US Commerce Secretary Howard Lutnick held a virtual meeting to discuss recently imposed American “reciprocal tariffs,” Pakistan’s finance ministry said on Tuesday.

Last month, Islamabad announced it had formally launched talks with the US following the imposition of steep tariffs by President Donald Trump’s administration on several countries, including Pakistan.

The duties, which Washington says are meant to correct trade imbalances and ensure fair treatment of American goods, have been widely criticized as a blow to global economic recovery efforts in the aftermath of the COVID-19 pandemic.

Pakistan has been hit with a 29 percent tariff on its exports to the US at a time when the country is trying to drive economic growth through increased exports.

“Further to Pak-US negotiations on US reciprocal tariffs, a virtual meeting took place between Mr. Muhammad Aurangzeb, Pakistan’s Finance Minister, and Howard Lutnick, United States’ Commerce Secretary on 16th June, 2025,” the finance ministry said in its statement.

“Both sides resolved to carry forward their negotiations through a constructive engagement to finalize the trade deal at the earliest,” it added.

The ministry informed the discussion focused on strengthening trade and investment and deepening economic ties between the two countries.

Both sides agreed to hold further technical-level discussions in the coming days, based on a mutually agreed roadmap.

The United States is Pakistan’s largest export market, and analysts warn that the new tariffs could undermine Islamabad’s fragile economic recovery.

According to Pakistan’s central bank, the country exported $5.44 billion worth of goods to the US in 2024. From July 2024 to February 2025, exports stood at $4 billion, up 10 percent compared to the same period last year.

Nearly 90 percent of Pakistan’s exports to the US are textiles, a sector likely to bear the brunt of the tariff impact.

Trade experts have also cautioned that the duties could erode Pakistan’s competitiveness, especially if regional players such as China, Bangladesh and Vietnam shift focus to European markets, intensifying competition in alternative destinations.

ISLAMABAD: Pakistan and 19 other countries on Tuesday issued a joint statement condemning Israel’s military attacks on Iran as a violation of international law, while calling for a nuclear-free Middle East and a return to diplomacy following a comprehensive ceasefire and de-escalation.

The statement came after Israel launched surprise airstrikes on Iranian nuclear and military facilities on Friday, in the middle of Tehran’s ongoing nuclear negotiations with Washington.

Israel and Iran traded missile fire for a fifth consecutive day on Tuesday, as US President Donald Trump warned Tehran residents to “immediately evacuate” and cut short his participation at a G7 summit in Canada.

The US Defense Department confirmed the redeployment of “additional capabilities” to the region, with the USS Nimitz leaving Southeast Asia amid reports of its new Middle East mission. The Chinese embassy in Tel Aviv also urged its citizens to evacuate Israel immediately.

Amid these developments, 20 countries, including Pakistan, ����ֱ��, the United Arab Emirates, Türkiye, Qatar and Oman, voiced a “categorical rejection” of Israel’s military action and warned of its destabilizing implications.

“[There is an] imperative need to halt Israeli hostilities against Iran, which come during a time of increasing tension in the Middle East, and to work toward de-escalation, to achieve a comprehensive ceasefire and restoration of calm,” the statement said.

It called for “the urgent necessity of establishing a Middle East Zone Free of Nuclear Weapons and Other Weapons of Mass Destruction, which shall apply to all States in the region without exception in line with relevant international resolutions, as well as the urgent need for all countries of the Middle East to join the Treaty on the Non-Proliferation of Nuclear Weapons (NPT).”

The statement further stressed the importance of refraining from targeting nuclear facilities safeguarded by the International Atomic Energy Agency (IAEA), warning that such actions violate international humanitarian law and the 1949 Geneva Conventions.

The signatories also emphasized that negotiations remain the only viable path toward a sustainable resolution of the Iranian nuclear issue and called for a swift return to diplomatic engagement.

All the countries stressed the importance of protecting freedom of navigation and maritime security in accordance with international law, fearing that tensions could spill over into shipping lanes vital to global trade.

“Diplomacy, dialogue, and adherence to the principles of good neighborliness, in accordance with international law and the UN Charter, remain the only viable path to resolving crises in the region,” it continued. “Military means cannot bring about a lasting resolution to the ongoing crisis.”