The government has summoned a meeting of stakeholders on Monday (April 7) to assess the impact of the United States’ 29% reciprocal tariff on Pakistani products, reported news outlet Business Recorder, on Friday.
According to a notification from the Ministry of Commerce (Textile Wing), the meeting will be chaired by the Federal Minister for Commerce to discuss possible mitigation strategies. Meanwhile, Prime Minister Shehbaz Sharif has formed a working group to evaluate the new tariffs’ applicability to Pakistani exports, recommend tariff rationalization measures, and propose initiatives to lessen the impact on exporters.
“The government is actively engaging with exporters to address the newly imposed US tariff,” said Fawad Anwar, Managing Director of Al Karam Textiles and Chairman of the Pakistan Textile Council (PTC). He noted that multiple discussions have taken place between the Finance Minister and key textile exporters since President Donald Trump announced the tariff hike earlier this week.
The working group, comprising 19 members from various ministries and business sectors, is analysing trade data to explore possible reductions in the US trade deficit with Pakistan—currently at $3.7 billion—through increased imports from the US or adjustments in Pakistan’s export policies. Options include reducing duties on US agricultural imports, such as cotton and soybeans, to improve trade balance and negotiate tariff reductions.
The group aims to finalize proposals by Monday for presentation at the Commerce Ministry meeting, with plans to send a delegation to Washington for direct negotiations.