Pakistan is strategically reasserting itself as a critical U.S. ally amid rising U.S.-China tensions, reminiscent of its frontline role during the Soviet-Afghan War. High-level diplomatic engagements, including visits by Pakistan’s Army Chief to the U.S., mark a renewed bilateral relationship focused on defense cooperation, counterterrorism, and economic projects such as a proposed $1.2 billion port on the Arabian Sea. The U.S. aims to leverage Pakistan’s unique geographic position near China, Iran, and Afghanistan to enhance regional influence, including access to the strategic Bagram Air Base in Afghanistan. However, this recalibration presents significant domestic risks for Pakistan, as closer U.S. ties could empower the military establishment and hardline elements, destabilizing civilian governance and exacerbating internal security challenges. Balancing this newfound U.S. partnership with its longstanding alliance with China—Pakistan’s main economic and security partner—remains a complex challenge, as China views U.S. encroachment with suspicion. Pakistan’s attempt to “make profits both ways” may strain its internal stability and regional ties, with potential for increased radicalization and geopolitical friction as the country navigates the complex dynamics of great power competition in South Asia.