US President Donald Trump made a big announcement that Pakistan might sell oil to India "some day" after saying that Washington has concluded a deal with Islamabad under which they will work together to develop the South Asian country’s oil reserves.
Trump says White House concluded a deal with Pakistan
"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 said in a post on Truth Social on Wednesday.
Trump announces 25 per cent tariff on India
Trump’s post came hours after he announced a 25 per cent tariff on India and an additional penalty for India's purchases of Russian military equipment and energy.
He stated that the White House has been "very busy" working on trade deals, and he will be meeting with the South Korean trade delegation.
"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," he said.
What White House economic adviser said on tariff
In the meantime, White House economic adviser Kevin Hassett said US President Donald Trump is “frustrated" with the lack of progress on trade talks with India and feels that the 25 per cent tariff imposed on the country will "address and remedy” the situation.
National Economic Council Director Kevin Hassett indicated that Trump was upset over the way negotiations on the proposed bilateral trade deal were held.
The two sides held a series of negotiations on the trade deal but no concrete outcome emerged in view of certain contentious issues.
The announcement of tariff on India 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.
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'We're negotiating with them right now': Trump after declaring 25% tariff plus penalty on India
