‘Maybe they’ll be selling oil to India some day’: Donald Trump says US to work with Pakistan to develop oil reserves

US President Donald Trump said on Wednesday that his administration will work with Pakistan to develop oil reserves. The US is looking for an oil company to lead this arrangement, wrote the US president on Truth Social. According to Trump’s post, the US had struck a deal with Pakistan wherein Washington would work with Islamabad in developing the Asian country’s oil reserves. “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,” Trump wrote, without elaborating.

“Who knows, maybe they’ll be selling Oil to India some day!” his post added. 

“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,” Trump wrote on social media.

Under the 47th US president, Washington has tried to negotiate trade pacts with several of America’s trade partner countries over what Trump has often described as unfair trade relations.

Separately, Trump said the US was engaging in negotiation talks with India after he announced a 25 per cent tariff on goods imported from India, effective August 1.

Trump announces 25% tariff on India, effective August 1

The 25 per cent duty announcement came two days before a deadline set by Trump that would lift a three-month pause on steep tariffs for a number of America’s trade partners, including India.

The new duty of 25 per cent is set to impact India’s goods exports to the US, including areas such as garments, pharmaceuticals, jewellery and petrochemicals.

India exports goods to the tune of $87 billion in 2024. Currently, the US has a $45.7 billion trade deficit with India.

Also, Trump mentioned an unspecified penalty on India from August 1, without elaborating. 

Negotiators from both sides have already held multiple rounds of talks to resolve a range of issues, particularly over market access for American agricultural and dairy products. While there have been signs of progress in some areas, the India side has resisted opening the domestic market to imports of products such as wheat, corn, rice and genetically modified soybeans.

India has now joined a long list of countries facing higher tariffs under the US president’s ‘Liberation Day’ reciprocal tariff policy. The stern policy is aimed at reshaping America’s relations with most of its trade partners.

India views the US as a key strategic partner. However, the Indian side has maintained a firm stance in several rounds of negotiations with its US counterpart.