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Israel has announced the removal of all tariffs on US products, aiming to foster market competition and reduce living costs. This decision, made by Israeli Prime Minister Benjamin Netanyahu's office, will eliminate the remaining tariffs on US imports, which were mainly in the agricultural sector.
The move is expected to increase the variety of US products available in the Israeli market, potentially driving down prices and offering consumers more choices. Israel and the US have a long-standing free trade agreement, signed in 1985, which has already made about 98% of US goods tax-free.
Finance Minister Bezalel Smotrich has been a key proponent of this decision, seeking to safeguard the Israeli economy during a sensitive period and strengthen economic ties with the US. The removal of tariffs is also seen as a strategic move to attract foreign investment and boost exports to the US