Israel Removes Tariffs on U.S. Imports Before 'Liberation Day'

Israel has announced the elimination of all tariffs on imports from the United States, a move directed by Prime Minister Benjamin Netanyahu and coordinated with Finance Minister Bezalel Smotrich and Economy Minister Nir Barkat. This decision comes just ahead of U.S. President Donald Trump's 'Liberation Day,' which involves imposing reciprocal tariffs on global trading partners. The removal of tariffs aims to boost market competition, diversify the Israeli economy, and reduce living costs, while also strengthening the economic ties between the two nations. The elimination primarily affects agricultural products, with Israel's Finance Ministry noting that the annual tariff collection from U.S. imports was approximately $11.3 million. The initiative is seen as a strategic effort to maintain positive trade relations and safeguard the Israeli economy during a period of potential global tariff escalations. The move still requires final approvals from Israel's Knesset Finance Committee and the Economy and Industry Minister but is expected to proceed smoothly.