Washington: Hours after announcing 25 per cent tariffs with additional penalties on India, US President Donald Trump on Wednesday 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.

The remarks came after Trump announced a 25 per cent tariff and additional penalty on Indian imports starting August 1, citing Washington's trade deficit with New Delhi and its purchase of Russian oil.

Trump, in his post, further stated that he had conversations on trade deals with leaders of many countries, noting "all of whom want to make the United States extremely happy."