In a Wednesday post on Truth Social, Trump wrote, “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 this partnership.”

“Who knows, maybe they’ll be selling oil to India someday!” he remarked.

The US president did not share further details about the agreement with Pakistan.

The announcement comes days after Pakistani Foreign Minister Ishaq Dar said that Islamabad and Washington were “very close” to finalizing a trade deal, which could be concluded within days, following his meeting with US Secretary of State Marco Rubio on Friday.

Also Read: US imposing 25% tariff and a penalty on India from August 1, Trump says

In separate developments, Trump imposed a 25 percent tariff on imports from India and announced an unspecified “penalty” over New Delhi’s purchase of Russian weapons and energy. He also signed an executive order increasing tariffs on Brazilian exports by 50 percent.

"Remember, while India is our friend, we have, over the years, done relatively little business with them because their Tariffs are far too high, among the highest in the World, and they have the most strenuous and obnoxious non-monetary Trade Barriers of any Country," Trump said on Wednesday morning.

He added that India has "always bought a vast majority of their military equipment from Russia, and are Russia s largest buyer of ENERGY, along with China, at a time when everyone wants Russia to STOP THE KILLING IN UKRAINE." In addition to the 25% tariff, India will face "a penalty for the above," Trump said.