Islamabad: Pakistan’s exports to the US are expected to increase by 20 percent after the US imposed a lower tariff on Pakistan.

Ministry of Finance sources said that due to the tariff deal, the US will get tax concessions on new investments and under the deal, there will be a 19 percent tariff on imports from the US at a lower rate and exports of Pakistani products.

Sources said that the US has imposed a lower tax tariff on Pakistan than Bangladesh, India, and Vietnam. SIFC also assisted in finalizing the trade deal with the US.

Ministry of Finance sources said that non-tariff barriers and trade imbalances between Pakistan and the US have been resolved under the deal.

According to sources, the trade volume between Pakistan and the US is about $7.4 billion, Pakistan’s exports to the US are $5.2 billion, imports from the US are about $2.2 billion, due to the increase in tariff rates on other countries, the trend of the US market will shift towards Pakistan.