Israel Aims to Avoid Tariffs with New Free Trade Deal Proposal

Israel has proposed a renegotiation of its free trade agreement with the United States, aiming to avoid potential tariffs between the two nations. This move, spearheaded by Prime Minister Netanyahu and Economy Minister Nir Barkat, seeks to protect Israel’s vital sectors from economic impact. 2024 bilateral trade is estimated at $37 billion, but tariffs could result in a loss of $2.3 billion for Israel. This initiative aims to maintain a tariff-free environment with the US, particularly for key industries like technology.