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Pakistan is pitching itself as a bitcoin mining hub, a source of rare earths and offering its support for a Nobel Peace prize for Donald Trump, as a cash-strapped Islamabad seeks to stave off hefty trade tariffs and deepen ties with the White House.
Its finance ministry is battling to secure a trade deal with the US, the country’s largest export partner, and hopes to avert tariffs, which could go as high as 29 per cent on July 9.
Islamabad hopes crypto and mining, as well as nominating Trump for the Nobel Peace Prize, will help it get on the president’s good side, according to officials in Islamabad and analysts.
“Pakistan has been quite smart about getting the administration’s attention, capitalising on its broader global interests in crypto and critical minerals and pitching its own offerings,” said Michael Kugelman, a senior fellow at the Asia Pacific Foundation of Canada.
The US accounts for a fifth of exports from Pakistan, a big garments manufacturer.
Pakistan’s negotiators, including the crypto minister, arrived in Washington on Monday for talks with US trade representative Jamieson Greer. Pakistani officials say any deal could include promises to purchase US-origin cotton and soyabeans — and a “strategic and investment” partnership in the mining sector. The White House declined to comment. Pakistan officials had hoped a deal could come as early as this week.
Asim Munir, Pakistan’s army chief, discussed trade and his country’s potential for mining bitcoin and rare earth minerals in a lunch with Trump last month, according to official readouts of the meeting.
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Its finance ministry is battling to secure a trade deal with the US, the country’s largest export partner, and hopes to avert tariffs, which could go as high as 29 per cent on July 9.
Islamabad hopes crypto and mining, as well as nominating Trump for the Nobel Peace Prize, will help it get on the president’s good side, according to officials in Islamabad and analysts.
“Pakistan has been quite smart about getting the administration’s attention, capitalising on its broader global interests in crypto and critical minerals and pitching its own offerings,” said Michael Kugelman, a senior fellow at the Asia Pacific Foundation of Canada.
The US accounts for a fifth of exports from Pakistan, a big garments manufacturer.
Pakistan’s negotiators, including the crypto minister, arrived in Washington on Monday for talks with US trade representative Jamieson Greer. Pakistani officials say any deal could include promises to purchase US-origin cotton and soyabeans — and a “strategic and investment” partnership in the mining sector. The White House declined to comment. Pakistan officials had hoped a deal could come as early as this week.
Asim Munir, Pakistan’s army chief, discussed trade and his country’s potential for mining bitcoin and rare earth minerals in a lunch with Trump last month, according to official readouts of the meeting.
#BTCReclaims110K #Write2Earn #Squar2earn #Bunanace #NFPWatch
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