Israeli Prime Minister Benjamin Netanyahu on Tuesday announced the lifting of all tariffs imposed on United States products.
Netanyahu said the move was aimed at ensuring a competitive market, make the economy more diverse and reduce the cost of living for Israelis.
This was announced in a joint statement by Netanyahu and Minister of Economy and Industry, Nir Barkat.
“In addition to the economic benefits for the economy and citizens of Israel, this move will allow us to further strengthen the alliance and ties between Israel and the United States.
“We will continue to work to remove barriers and tariffs and to reinforce our special relationship with the United States,” parts of the statement said.
This comes as President Donald Trump is set to levy reciprocal tariffs on US trade partners.
The US is Israel's largest trading partner and closest ally, with bilateral trade worth $34 billion in 2024.
