‘Imposition of a 29% tariff by the US could lead to a decline in Pakistan’s export volume by $1.1bn to $1.4bn’
(Web Desk): Pakistani exports are facing serious threats due to tariffs imposed by US President Donald Trump.
According to a report by the Pakistan Institute of Development Economics (PIDE), the imposition of a 29% retaliatory tariff by the US could lead to a decline in Pakistan’s export volume by $1.1 billion to $1.4 billion.
The PIDE report warns that Pakistani exports could drop by 25%, potentially resulting in the loss of 500,000 jobs due to the impact on production. Meanwhile, countries like India and Bangladesh could benefit from the situation.
The Vice Chancellor of the Pakistan Institute of Development Economics, Dr. Nadeem Javed, stated that while the situation poses a threat to Pakistan, it also presents an opportunity to review its export policies and devise a better strategy for the future.
It is worth noting that US President Donald Trump had announced a 29% tariff on Pakistani products.
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