Pakistan, July 2 -- Pakistan's high-level delegation in Washington is negotiating what may be the country's most consequential trade deal in years. At stake is the future of the 29% tariff imposed under the Trump administration on Pakistan's exports to the US, a tariff currently suspended until July 9.

The economic implications are clear. Nearly 90% of Pakistan's exports to the US are textiles. If the tariff snaps back into effect, it could force widespread factory closures and job losses amid a severe drop in foreign exchange earnings. Pakistan cannot afford this shock while already facing fiscal constraints and ongoing IMF programs.

However, this negotiation goes beyond tariffs. The US wants Pakistan to increase imports of American go...