'They will sell oil to India someday': Trump says US will develop 'massive' oil reserves in Pakistan

Washington DC: In a major blow for India, U.S. President Donald Trump on Wednesday announced a trade deal with Pakistan just hours after imposing 25 per cent tariffs and penalties on New Delhi. Trump highlighted a joint initiative to develop oil reserves in Pakistan and even suggested that Islamabad might one day export oil to India.

In a post in Truth Social, Trump said, "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. We are in the process of choosing the Oil Company that will lead this Partnership. Who knows, maybe they'll be selling Oil to India some day!" Trump stated.

Interestingly, Trump's remark came hours after the US announced a 25 per cent tariff and additional penalty on Indian imports starting August 1, citing Washington's trade deficit with New Delhi and its purchase of Russian oil.

Trump further stated that he had conversations on trade deals with leaders of many countries, noting "all of whom want to make the United States extremely happy."

"We are very busy in the White House today working on Trade Deals. I have spoken to the Leaders of many Countries, all of whom want to make the United States "extremely happy." I will be meeting with the South Korean Trade Delegation this afternoon. South Korea is right now at a 25% Tariff, but they have an offer to buy down those Tariffs. I will be interested in hearing what that offer is," the post read.

He also noted that many countries are currently making offers to the US for "Tariff reduction."

"Likewise, other Countries are making offers for a Tariff reduction. All of this will help reduce our Trade Deficit in a very major way. A full report will be released at the appropriate time. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN!" it further read. (ANI)