Israel Cancels Remaining US Goods Import Tariffs to Secure Trump's Tariff \"Probation\"

BlockBeats News, April 2nd, Israeli Finance Minister signed an instruction to immediately cancel all remaining US goods import tariffs, apparently in anticipation of a "probation" of reciprocal tariffs that the Trump administration is expected to announce on Wednesday. The order was coordinated with Israeli Prime Minister Netanyahu and Minister of Economy Barakat, but still needs final approval from the Israeli Parliament's Finance Committee.

In a letter sent on March 20th to Barakat and Minister of Agriculture Avi Dichter, Smotrich requested the cancellation of tariffs on American products, mainly in the agricultural sector. Israel and the United States signed a free trade agreement in 1985. Under the agreement, the US and Israel implemented phased tariff reductions, eventually almost completely eliminating tariffs on manufactured goods by 1995.

However, the agreement does allow the US and Israel to maintain some import and tariff restrictions, such as agricultural quantity limits and fees, mainly to protect domestic production and food security. (Jin Shi)