US to develop oil reserves in Pakistan, says Trump

US President Donald Trump said on Wednesday that the United States has struck a new trade agreement with Pakistan to jointly develop the country’s vast oil reserves -- a move he says could eventually lead to Pakistan exporting oil to New Delhi. “We have just concluded a Deal with the Country of Pakistan, whereby Pakistan and the United States will work together on developing their massive Oil Reserves,” Trump said in a statement. “Who knows, maybe they’ll be selling Oil to India some day!”

This comes after Trump’s declaration of a 25% tariff and extra penalties on goods imported from India, set to take effect on August 1. He pointed to India's persistent oil trade with Russia and existing trade restrictions as major factors behind the decision.
According to Trump, other unnamed countries have also signaled interest in negotiating lower tariffs. “Likewise, other Countries are making offers for a Tariff reduction,” he wrote, arguing that such deals “will help reduce our Trade Deficit in a very major way.” Trump concluded by saying, “A full report will be released at the appropriate time,” suggesting more details may follow on the proposed trade shifts.