Israel has abolished all duties that were previously levied on goods from the United States – Israel's largest trading partner. This is stated in a joint statement by the Office of the Head of Government, the Ministry of Finance, and the Ministry of Economy and Industry of Israel, reports UNN.
Details
The document states that after approval by the Finance Committee and signing of the decree by the Minister of Economy and Industry, an amendment to the decree on trade duties and protective measures will come into force, as a result of which duties on all imports from the United States will be abolished.
The United States is Israel's closest ally, as well as its most important trading partner. In 2024, exports of goods to the United States amounted to $17.3 billion, and exports of services were estimated at $16.7 billion
In their opinion, the abolition of duties will actually expand the trade agreement between Israel and the United States and strengthen strategic relations between the countries. It also carries a potential benefit for Israeli consumers in the form of a possible reduction in the cost of living due to the expected increase in imports of food and agricultural products from the United States, which will now be subject to zero duty.
The abolition of duties on American goods is another step in the policy pursued by the governments under my leadership: opening the market to competition, increasing the variety of goods and reducing the cost of living. In addition to the economic benefits for the economy and citizens of Israel, this step will allow us to further strengthen the alliance between Israel and the United States
He added that Israel will continue to work to remove barriers and duties, as well as to strengthen "our special relationship with the United States."
Let us remind
The United Nations on Tuesday responded to the statement by the Israeli authorities regarding the availability of food in the Gaza Strip, calling it unfounded. This happened against the background of the closure of all bakeries in the region that received support from the World Food Program.