U.S. & Pakistan Trade Deal & Russian Tariffs
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U.S. & Pakistan Trade Deal & Russian Tariffs
Posted on Aug 1
By: Brian Walczyk, Compliance Manager, TadeInsights, LCB, CCS
President Trump announced on July 30th that the U.S. and Pakistan have arrived at a trade deal, via a Truth Social posting.
The posting does not state any particular tariff rate for imports from Pakistan, but does focus on how Pakistani oil is central to the deal mentioned. It also mentions that “other countries are making offers for a tariff reduction,” reinforcing the fluidity of the situation ahead of the August 1st increases related to the April IEEPA Reciprocal tariffs.
This comes on the heels of a press meeting on Air Force One during the return trip from the President’s visit to Scotland. The President mentioned adding a 100% tariff to countries purchasing oil or military equipment from Russia. A date of August 8th was mentioned during the gaggle for when these tariffs may start.
We will continue to provide updates as they are made available. Please contact your V. Alexander account team, or you may also contact our Trade Compliance team at tradeinsights@valexander.com with any questions, and you can always follow us on our website www.valexander.com for updates on this and other topics.