Washington: U.S. President Donald Trump has announced that a trade deal with Pakistan has been finalized.Pakistan and the US finalised a trade deal on Wednesday night, expected to lower tariffs - although no figure was announced - while US President Donald Trump cited a pact aimed at helping develop Pakistan's oil reserves.Finance Minister Muhammad Aurangzeb is currently in Washington for negotiations on a tariff deal and also began meetings with senior US officials.'In a landmark development, Pakistan and the United States finalised a trade agreement today aimed at boosting bilateral trade, expanding market access, attracting investment, and fostering cooperation in areas of mutual interest,' the Pakistani embassy in the US posted on X on Thursday morning.Trump announced the deal on his platform Truth Social early Thursday morning. '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,' Trump wr ote.'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!'There was no formal announcement from either side on what tariff rate was agreed upon, but the Pakistani embassy said the agreement 'will result in reduction of reciprocal tariff especially on Pakistani exports to the United States.''This deal marks the beginning of a new era of economic collaboration especially in energy, mines and mineral, IT, cryptocurrency and other sectors,' the embassy said.'The deal complements Pakistan's existing efforts of broadening the scope of Pak-US economic ties and to include partnerships at the US states level. The agreement enhances Pakistan's access to the US market and vice versa.'The deal was reached during a meeting of Aurangzeb, US Secretary of Commerce Howard Lutnick, and US Trade Representative Ambassador Jamieson Greer. Commerce Secretary Jawad Paul and Pakistan's Ambassador to the US Rizwan Saeed Sheikh were also present during the meeting.The Pakistan embassy said the deal is expected to spur increased US investment in Pakistan's infrastructure and development projects. 'This trade agreement underscores the commitment of both nations to deepen their bilateral relationship and explore all avenues for strengthening trade and investment ties.'Prime Minister Shehbaz Sharif thanked Trump for his leadership role in finalising the 'historic US-Pakistan trade agreement', saying in a post on X that 'this landmark deal will enhance our growing cooperation so as to expand the frontiers of our enduring partnership in days to come.'Aurangzeb called the deal a 'win-win' for both countries. 'Today marks the culmination of the journey we started a few months back,' he said in a video message released by the Ministry of Finance on Thursday.Aurangzeb reflected on the progress made since the talks related to the tariffs began, highlighting efforts to address non-tariff barriers, correct the trade imbalance, and review tariff li nes on both sides.