US Tariff Increase Prompts Call for High-Level Trade Committee

Karachi: The Site Association of Industry Karachi has called on the Pakistani government to establish a high-level committee to address the recent 29% tariff imposed by the United States on Pakistani goods. This move comes in response to the tariff hike announced by former President Donald Trump, prompting concerns within Pakistan’s industrial sector.

Ahmed Azeem Alvi, President of the SITE Association, expressed confidence in Prime Minister Shehbaz Sharif’s leadership and emphasized the business community’s trust in the current government. Alvi believes that with proper planning and the right personnel, Pakistan can benefit from the imposed duties.

In his proposal, Alvi suggested that the committee should include representatives from key industrial cities such as Karachi, Lahore, Sialkot, and Faisalabad. The focus would be on large-scale manufacturers and small and medium enterprises (SMEs) with expertise in trade and industrial affairs. The goal is to find strategies to increase exports to the US and meet the demand for imported raw materials vital for local industries.

The committee would be tasked with assessing the tariff hike’s impact, identifying ways to boost exports, and recommending support measures for industries reliant on imports. Alvi stressed the importance of presenting a detailed study report to the Prime Minister to ensure coordinated policy action.

Additionally, Alvi proposed sending trade delegations to the US for business-to-business (B2B) meetings with American counterparts. He highlighted the role of Pakistan’s commercial attachés in facilitating these engagements to secure export orders, urging immediate action to achieve results.

Alvi highlighted the potential of leveraging Pakistan’s friendly ties with the US, emphasizing the opportunity to capture a significant market share with high-quality products. He called on the government to support industries with concrete relief measures.

Alvi expressed confidence that these initiatives could help Pakistan tackle the challenges posed by the US tariff increase and strengthen economic relations with the US.