Significant progress has been reported in Pakistan-US negotiations on a proposed reciprocal trade agreement. The two-day talks were held in Washington and were led by Commerce Secretary Jawad Paul. Reciprocal tariffs, energy, information technology, mining, investment and critical minerals were discussed. Greater access to the US market was also sought for Pakistani exporters. The economic relationship has been strengthened by the United States being Pakistan’s largest single-country export market, while Pakistan has been ranked as the second-largest importer of US cotton.

Pakistan’s import structure was reshaped by the tariff rationalisation drive in FY26, as nearly 39.2% of the total import bill was brought in duty-free. Official data showed that imports worth $27.02 billion entered without customs duties out of a total import bill of $68.99 billion. The shift was aimed at reducing input costs for industrial sectors and improving competitiveness, while $41.97 billion, or 60.8%, of imports remained subject to duties.

Pakistan’s fish and fish preparations exports reached a record $568 million during FY2025-26. Federal Minister for Maritime Affairs Muhammad Junaid Anwar Chaudhry said frozen fish remained the top export item, followed by squid, cuttlefish, fish meal, shrimps, crabs and other seafood products. Major export destinations included China, Thailand, Malaysia, the UAE, Japan, Vietnam, Saudi Arabia, South Korea, Indonesia and the United States. The record was achieved despite Gulf-related trade and maritime logistics disruptions.