Prime Minister of Israeli, Benjamin Netanyahu announced the lifting of all tariffs imposed on United States products on Tuesday.
The Prime Minister said the move was aimed at ensuring a competitive market, make the economy more diverse and reduce the cost of living for Israelis.
This was announced in a joint statement by Netanyahu and Minister of Economy and Industry, Nir Barkat.
Parts of the statement said, “In addition to the economic benefits for the economy and citizens of Israel, this move will allow us to further strengthen the alliance and ties between Israel and the United States.
“We will continue to work to remove barriers and tariffs and to reinforce our special relationship with the United States.”
This comes as President Donald Trump is set to levy reciprocal tariffs on US trade partners.
The United States president started imposing tariffs on some particular countries ever since he made a dramatic comeback to the White House on January 20, but incredibly announced last week that all nations of the world will be levied heavy tariffs.
The take-off of the tariffs is just some few hours away.
The US is Israel’s largest trading partner and closest ally, with bilateral trade worth $34 billion in 2024.
