“Completely eliminating tariffs on imports from the U.S. is a significant step in safeguarding the Israeli economy during a sensitive period and strengthening economic ties with our most important ally—the United States,” said Finance Minister Bezalel Smotrich.
HUMAN EVENTS
Israeli Finance Minister Bezalel Smotrich has called for the immediate removal of all remaining tariffs on U.S. imports, aiming to boost economic ties and stabilize Israel’s economy.
Israel and the U.S. have maintained a free trade agreement since 1985, with about 98% of traded goods already tariff-free. The remaining tariffs, mainly on agricultural products, total around 42 million shekels ($11 million) annually. Smotrich has urged Economy Minister Nir Barkat to implement the change swiftly.
While some officials emphasize the need to protect Israeli farmers, the Agriculture Ministry has expressed willingness to compensate those affected. The move aligns with Israel’s broader strategy to ease import regulations and reduce the cost of living by adopting international standards.