Israel canceled all customs duties from goods from the United States

After the Decree by the Minister of Economics and Industry was approved by the Commission on Finance and the signing by the Minister of Economics and Industry, the amendment to the decision on trade duties and protective measures will enter into force, as a result of which duties for all imports from the United States will be canceled.

The USA is the closest ally of Israel, as well as its most important trading partner. In 2024, the export of goods in the United States amounted to $ 17.3 billion, and the export of services was estimated at 16.7 billion dollars.

The agreement on the free trade zone between Israel and the USA, concluded in 1985, led to the fact that the vast majority (approximately 99%) of goods imported from the United States have already been completely exempted from customs duties. Thus, the reduction in duties will affect the extremely limited number of goods in the category of food and agricultural import from the United States.

The abolition of duties will actually expand the trade agreement between Israel and the United States and strengthen strategic relations between countries. It also bears potential benefits for Israeli consumers in the form of a possible decrease in the cost of life due to the expected increase in the import of food and agricultural goods from the United States, which will now be taxed.

Prime Minister Benjamin Netanyahu: “The abolition of duties on American goods is another step in the politics pursued by governments under my leadership: opening the market for competition, increasing the variety of goods and reducing the cost of life. In addition to economic benefits for the economy and citizens of Israel, this step will allow us to strengthen the alliance between Israel and the United States. We will continue to work on eliminating barriers and to eliminate barriers and duties, as well as on the strengthening of our special relations with the United States. ”