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3w ago

Israel Announces Elimination of Tariffs on U.S. Goods, Pending Parliamentary Approval

The move, primarily affecting agricultural imports, is seen as a diplomatic gesture to strengthen ties with the U.S. ahead of anticipated American trade measures.

Overview

  • Israel has officially announced the removal of all tariffs on U.S. goods, primarily agricultural products, in a bid to strengthen economic and strategic ties with the U.S.
  • The tariff elimination still requires approval from Israel's parliament finance committee to take full effect.
  • This decision aligns with Israel's broader economic policy to open markets, increase competition, and reduce the cost of living for its citizens.
  • The U.S. is Israel's largest trading partner, with bilateral trade reaching $34 billion in 2024, underscoring the significance of this policy shift.
  • The timing of the announcement, ahead of President Donald Trump's expected tariff measures, is widely interpreted as a strategic and diplomatic gesture.