On the evening of April 1, local time, the Israeli government issued a statement saying that in accordance with the instructions of Israeli Prime Minister Netanyahu, Finance Minister Smotrich and Minister of Economy and Industry Barkat, Israel will cancel the tariffs imposed on all goods imported from the United States so far.
The statement said that the decision has been approved by the Finance Committee of the Israeli Knesset and the order was formally signed by the Israeli Minister of Economy and Industry. After the relevant amendments come into effect, all goods imported from the United States to Israel will enjoy zero tariff treatment.
The statement said that the United States is Israel’s most important strategic ally and largest trading partner. In 2024, Israel’s exports to the United States reached US$17.3 billion, of which service exports were approximately US$16.7 billion.
Since the signing of the US-Israel Free Trade Agreement in 1985, about 99% of US imports to Israel have been exempted from tariffs. Therefore, this adjustment mainly involves a small number of food and agricultural product categories.
The statement said that the move to cancel tariffs is seen as an extension of the US-Israel trade agreement and is aimed at strengthening bilateral strategic relations.