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The flag of Pakistan flies among American flags in New York, on September 10, 2010. — AFP
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LAHORE: US President Donald Trump’s new tariff policies have significantly affected global trade, which has led to a diverse response from the affected countries. Regional economies such as India, Vietnam, Thailand, Bangladesh and Pakistan are actively resolving the situation.
India has adopted an active approach with the United States to reduce the effects of new prices. President Trump has imposed a 10 % baseline tariff on Indian goods, as well as a 90 -day maratrium on further increase. In response, India aims to increase trade by 2030 to 500 billion by 2030, bilateral trade agreements with the United States. The country is also considering a significant tariff reduction on half of its $ 23 billion US imports. Prime Minister Narendra Modi’s recent visit to Washington has helped restore trade debates and reduce tensions.
Meanwhile, Vietnam was announced on April 2, with the United States facing 46 % mutual rates on its exports. This has raised considerable concern among the Vietnamese exporters. Vietnamese Minister of Commerce Hong Dean met with US officials in March to achieve bilateral trade agreements and raise objections to revenue. US Ambassador Mark Kanper assured Vietnam that these measures are not related to the country, but rather intends to ensure fair trade and protect US workers.
It is expected that Thai’s economy will also be badly affected by new taxes. The Bank of Thailand has predicted less than 2.5 % for GDP growth, which is less than previously estimated. The Thai government is addressing US concerns by plans to increase US goods imports and war issues such as false product-Noorjin claims. Finance Minister Pachai Chinhujira has called on US officials to discuss trade resolutions.
Public information about Bangladesh’s specific response is currently limited. However, in view of the significant exports of its clothing to the United States, Bangladesh is likely to closely monitor the situation and estimate the potential impact on its export sector.
New US revenue has been substantially affected by Pakistan, its exports have been imposed 29 % tariff – it has been suspended for 90 days. If it is implemented permanently, tariffs may reduce the estimated $ 564 million in fiscal year 2025-26, which is expected to be the most affected in the textile sector. Finance Minister Mohammad Aurangzeb has expressed hope that the tariff challenge can be turned into a mutual opportunity. Two committees have been formed to finalize Pakistan’s response, and a high -level delegation is ready to visit Washington for talks.
Prime Minister Shahbaz Sharif has set up two dedicated bodies: A working group headed by a steering committee chaired by the Finance Minister and the Secretary for Trade. Their mandate is to have a comprehensive response to US prices.
Pakistan is also considering imports worth about $ 1 billion worth of US crude oil to help balance its trade surplus and reduce the effects of revenue. The move is consistent with a widespread trend in Asian countries to increase US energy imports to overcome tariff pressure.
By promoting import of US energy products, Pakistan hopes it will reduce its trade surplus with the United States, which can undermine the rationality of imposing more taxes on Pakistani goods. With the help of such energy, the way to improve wider economic engagement and bilateral relations can be paved.
The United States has also expressed interest in investing in Pakistan’s unused mineral resources, including copper, gold and lithium. Better cooperation in this sector can be a strategic bargain in trade talks. The Pakistani ambassador to US Rizwan Saeed Sheikh has emphasized the importance of resolving tariff issues through dialogue and reaffirmed Pakistan’s commitment to cooperate in supply chains globally.
