The Trump administration just scored a huge victory when it comes to tariffs being imposed on products shipping out from the United States, as Israel announced on Tuesday they would be taking a proverbial ax to all tariffs, according to Prime Minister Benjamin Netanyahu and several other Israeli leaders.
Netanyahu stated that the reason for tossing out the tariffs was to help cultivate competition in the market place and create a more diverse economy, while reducing the cost of living for the people of Israel.
“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,” The prime minister went on to say in a statement. “We will continue to work to remove barriers and tariffs and to reinforce our special relationship with the United States.”
“Israel announced the plan in a joint statement from Netanyahu, Israeli Minister of Finance Bezalel Smotrich, and the country’s Minister of Economy and Industry, Nir Barkat, just one day before President Donald Trump is set to levy reciprocal tariffs on U.S. trade partners,” Fox Business reported. “The U.S. is Israel’s largest trading partner and closest ally, with bilateral trade worth $34 billion in 2024, according to the Office of the United States Trade Representative.”
Four decades ago, both allies put pen to paper and signed a free trade agreement, which resulted in 99 percent of goods imported from the U.S. tax-free. Whenever you can get rid of taxation, it’s a darn good day.
Officials in Israel stated that the reduction in tariffs would only apply to a “very limited number of products,” mostly food and other agricultural imports from the U.S. So far, Trump hasn’t detailed Wednesday’s tariffs, though he did announce a 25% tariff on auto imports earlier this week that is expected to take effect late Wednesday.
“The current administration presents a real opportunity to shape a new strategic economic future for the two countries while strengthening Israel’s central role as an economic partner,” Smotrich commented.
Trump has said he will unveil a suite of tariffs on Wednesday, which he has dubbed “Liberation Day.” Trump’s promised tariffs will come on top of a 25% tariff on steel and aluminum imports, 25% tariffs on goods imported from Canada and Mexico, and a 20% tariff on goods from China.
“So far, Trump hasn’t detailed Wednesday’s tariffs, though he did announce a 25% tariff on auto imports earlier this week that is expected to take effect late Wednesday,” the report concluded.
It’s about time the rest of the world stop bilking us for cash and start being reasonable when it comes to taxing imports. Europe and other nations around the globe seemingly want us to foot the bill for NATO and help provide funding for their governments through tariffs, as if we aren’t already struggling to pay off our own bills.
Trump is wanting to level the playing field so we can save money, pay down our debt, and remain solvent. We as Americans should be all for that as it will improve our economy and reduce inflation so the dollar is actually worth something again.
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