The United States and Pakistan hailed a trade deal on Thursday that Islamabad said would lead to lower tariffs and increased investment, but without specifying the level of tariff to be levied on Pakistani exports.

Pakistan welcomes a 19% US tariff on its exports, viewing it as a balanced move enhancing competitiveness in the American market. The deal signals a strategic deepening of economic ties and shared growth,

US President Donald Trump announced a deal with Pakistan on Thursday — vowing to develop "massive oil reserves" in the country.