Islamabad: Pakistan is seriously considering importing American crude oil and has proposed to the US to buy oil to reduce its trade deficit.
Sources said that a Pakistani delegation is currently in Washington for tariff negotiations with the US and these issues are being discussed with US officials.
According to sources, Pakistan is seriously considering importing American crude oil in view of the imposition of a 29% tariff on Pakistan by the US and in this regard, Pakistan has proposed to the US to buy oil to reduce its trade deficit.
According to officials, the 29% US tariff on Pakistan is temporarily suspended for 90 days, however, the Pakistani delegation is currently in Washington for tariff negotiations with the US.
On the other hand, Saudi Arabia has also provided Pakistan with a facility of $1.2 billion for oil.
It should be noted that in 2024, Pakistan imported $5.1 billion in oil, while the US has a $3 billion trade deficit with Pakistan.
Sources said that Pakistan is willing to buy cotton yarn and soybeans from the United States.
