Poor Netanyahu however not poor Israelis.
Israel’s authorities has stated it can cancel all remaining tariffs on American imports, in an obvious bid to make sure that it’s exempt from a brand new wave of levies that President Trump is about to announce on Wednesday.
Israel and the US, two shut allies, have had a free-trade settlement since 1985 that excludes most American merchandise from Israeli tariffs. On Tuesday, Prime Minister Benjamin Netanyahu of Israel offered the choice to take away all remaining tariffs as a transfer towards better commerce liberalization.
That is from Matthew Mpoke Bigg, “On Eve of Trump’s Tariffs Announcement, Israel Says It Will Elevate All Duties on U.S. Imports,” New York Occasions, April 2, 2025.
Poor Benjamin Netnayahu. He clearly will need to have thought that when Donald Trump stated he wished reciprocal tariffs, Donald Trump will need to have wished reciprocal tariffs. What Netenyahu didn’t perceive is that Trump doesn’t need reciprocal tariffs. As a substitute, he desires to impose excessive tariffs on merchandise from most nations regardless of the tariff coverage of the actual nation.
There is one shiny spot. Having zero tariffs on all imports from the US is an efficient transfer that can profit most Israelis and trigger their actual GDP to be barely larger. It could be even higher for many Israelis if Netanyahu have been to chop tariffs on all imports to zero.
