Pakistan, US Agree To Deal Lowering Tariffs, Tapping Oil

ISLAMABAD (AP) — The United States and Pakistan say they have reached a trade agreement that is expected to allow Washington to help develop Pakistan’s largely untapped oil reserves and lower tariffs for the South Asian country. Pakistani officials did not specify where the exploration would take place, but most of Pakistan’s reserves are believed to be in the insurgency-hit southwestern province of Balochistan, where separatists oppose any foreign investment. Early Thursday, U.S. President Trump wrote on his Truth Social platform: “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.” Pakistan’s premier also hailed the agreement.