The United States and Pakistan hailed a trade deal on Thursday that Islamabad said would lead to lower tariffs and increased investment, but without specifying the level of tariff to be levied on Pakistani exports.

The United States and Pakistan say they have reached a trade agreement that is expected to allow Washington to help develop Pakistan's largely untapped oil reserves and lower tariffs for the South Asian country.

Donald Trump announced sealing a trade deal with Pakistan to develop what he described as the South Asian nation's “massive oil reserves”.