KARACHI: In response to the unexpected 29 per cent reciprocal tariff imposed by the United States on Pakistan, exporters feel that the impact would be detrimental, though not significantly severe, as competitors are also subject to similarly high taxes on their exports to the US.

US President Donald Trump announced a raft of tariffs on Wednesday, saying they were designed to stop the US economy from being “cheated”.

Pakistani exporters said the tariff would not cause any significant hit since competitors like India, China, Vietnam and Bangladesh will also face high tariffs in the US market.

United Business Group (UBG) President and ex-chief of the Federation of Pakistan Chamber of Commerce and Industry Zubair Tufail said the negative impact of the US tariff on exports from Pakistan is imminent but not to any great extent.

Industry players suggest zero-rated imports to offset negative fallout

“The US tariff will have little negative impact since most of the competitors will face the same, higher or lower tariff on exports,” he said. He was sure exporters would not face a tough time in the US markets.

However, others were hopeful that the government could find a remedy since the imports from the US are too little.

Pakistan imported goods worth $1.87........

© Dawn Business