Washington DC, July 30 -- Hours after announcing 25 per cent tariffs with additional penalties on India, US President Donald Trump on Wednesday (local time) announced a trade deal with Pakistan, touting a joint initiative to develop oil reserves in India's terror-harbouring neighbour and even floated the idea that "some day" Islamabad might sell oil to New Delhi.

In a post on Truth Social, Trump stated that the United States and Pakistan are currently in the process of selecting the oil company for the partnership.

"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...