Just hours after hitting India with steep tariffs, US President Donald Trump revealed a new trade agreement with Pakistan focused on developing the country’s oil reserves. In a pointed remark, he suggested Islamabad might sell oil to New Delhi "some day."
In a post on Truth Social, Trump stated that the US and Pakistan were currently in the process of selecting an oil company for the partnership.
"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 wrote.
The US President's post came hours after he announced a 25% on India and an additional penalty for India's purchases of Russian energy and military equipment.
Trump's surprise announcement came a day after Indian officials said that a US trade team would visit from August 25 to negotiate a trade deal.
The announcement is being seen as a pressure tactic to get New Delhi to agree to demands made by the US, which has, in recent days, got favourable trade deals with major partners like Japan, the UK and the European Union.
Commenting on the development, New Delhi said it is studying the implications of these tariffs and is still hopeful of concluding a fair, balanced and mutually beneficial trade agreement.
"India and the US have been engaged in negotiations on concluding a fair, balanced and mutually beneficial bilateral trade agreement over the last few months. We remain committed to that objective," it said.
Meanwhile, Trump, in a Truth Social post, further stated that he had conversations on trade deals with leaders of many countries, noting "all of whom want to make the United States extremely happy."
"We are very busy in the White House today working on Trade Deals. I have spoken to the Leaders of many countries, all of whom want to make the United States 'extremely happy.' I will be meeting with the South Korean Trade Delegation this afternoon. South Korea is right now at a 25% Tariff, but they have an offer to buy down those Tariffs. I will be interested in hearing what that offer is," the post read.
He also noted that many countries are currently making offers to the US for "Tariff reduction."
"Likewise, other Countries are making offers for a Tariff reduction. All of this will help reduce our Trade Deficit in a very major way. A full report will be released at the appropriate time. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!" it further read.
