Israel cancels remaining import tariffs on American goods to win Trump's "stay of execution" on reciprocal tariffs.

GateUser-6433627c · 2025-04-01T18:03:49+00:00

Israeli Finance Minister Bezalel Smotrich has canceled the remaining tariffs on U.S. imports to avoid reciprocal tariffs that the Trump administration may announce. This move requires final approval from the Israeli parliament's Finance Committee. The two sides have gradually reduced tariffs since signing a free trade agreement in 1985, but still maintain some import and tariff restrictions to protect local production.

GateUser-6433627c

2025-04-01 18:03:49

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On April 2, Israeli Finance Minister Smotrich signed a directive to immediately remove all remaining import tariffs on U.S. goods, apparently in an attempt to win a “reprieve” of reciprocal tariffs that the Trump administration is expected to announce on Wednesday. The order was coordinated by Israeli Prime Minister Benjamin Netanyahu and Economy Minister Balkat but still needs final approval from the Knesset Finance Committee. In a March 20 letter sent to Barkat and Agriculture Secretary Avi Dicht, Smoterich demanded the removal of tariffs on U.S. products, primarily in the agricultural sector. Israel and the United States signed a free trade agreement in 1985. Under the agreement, the United States and Israel implemented phased tariff cuts, culminating in the almost complete elimination of tariffs on manufactured goods in 1995. However, the agreement does allow the United States and Israel to maintain some import and tariff restrictions, such as limits on the quantity of agricultural products and charges, mainly to safeguard local production and food security. ( gold ten )

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