THE new deal reached between Pakistan and the US marks a breakthrough in their oft-strained relations. Both sides claimed on Thursday that they have reached a deal. American President Donald Trump said it will help the two allies tap Pakistan’s “massive oil reserves”.

“We are in the process of choosing the Oil Company that will lead this Partnership,” he announced on social media. While the US president did not mention tariffs, Islamabad said the agreement would lead to a reduction in the steep reciprocal import taxes Washington had slapped on its exports under the so-called Liberation Day duties announced in April but temporarily suspended for 90 days to give room for trade........

© Dawn