Breaking News: Israel Declares Zero Tarrifs on All American Products
The Israeli government announced today that it will be cancelling all tariffs on US products, effective immediately.
This decision is expected to significantly boost trade between the two nations and further solidify their already strong economic ties.
Israel announced the plan in a joint statement from Netanyahu, Israeli Minister of Finance Bezalel Smotrich, and the country’s Minister of Economy and Industry, Nir Barkat, just one day before President Donald Trump is set to levy reciprocal tariffs on U.S. trade partners. The move is aimed at promoting free trade and strengthening the bilateral relationship between Israel and the United States. The removal of tariffs is expected to increase American exports to Israel, creating new opportunities for US businesses and benefiting Israeli consumers.
“We are pleased to take this significant step towards enhancing our trade relationship with the United States,” said Israeli Minister of Economy and Industry, Nir Barkat .
“By removing tariffs on US products, we are sending a clear message that Israel is committed to free trade and open markets. This move will not only benefit our economies but also deepen our strategic partnership,” he said.
The US-Israel trade relationship is already substantial, with bilateral trade totalling over 34billion in 2024.The removal of tariffs is expected to increase this number significantly.
The decision has been welcomed by US trade officials, who see it as a major victory for American businesses. “This is a tremendous opportunity for US exporters, and we applaud Israel’s commitment to free trade,” said US Trade Representative, Katherine Tai. “We look forward to continuing to work with our Israeli partners to deepen our trade relationship and create new opportunities for businesses on both sides.”
The removal of tariffs will apply to all US products, including agricultural goods, machinery, and high-tech equipment. Israeli consumers can expect to see lower prices on a range of products, from electronics to food and beverages.
