Israel lifts tariffs on US products to strengthen economic relations
Israeli Prime Minister Benjamin Netanyahu declared that Israel is lifting all tariffs on goods from the US, in an attempt to build up the relations between the two nations, Netanyahu said in an X post, the Middle East Eye reported on April 1st.
Netanyahu also said: “Today we cancelled all of the customs duties levied on products from the US, Israel’s largest trading partner.”
According to Reuters, the move still needs approval from Economy Minister Nir Barkat and parliament’s finance committee. Barkat said eliminating tariffs is advantageous for mutual trade ties “that will promote further economic cooperation in the future.”
Netanyahu said: “Cancelling the customs duties on American goods is an additional step in the policy that my governments have led for a decade in opening up the market to competition, introducing variety to the economy and lowering the cost of living.”
“We will continue to work to reduce barriers and customs and bolster our special relationship with the US,” Netanyahu asserted.
The New York Times reported that Trump has already imposed several major rounds of tariffs on imports from China, Canada, and Mexico. He also announced taxes on foreign cars and auto parts.
Trump had previously, announced the suspension of new tariffs on Mexico and Canada, Barron’s reported on March 6th.
Middle East Eye, New York Times, Reuters, Barron’s
