Israel scraps import duties on US goods ahead of Trump’s tariff announcement

Israeli PM Benjamin Netanyahu and US President Donald Trump - File Photo

Israel has cancelled import duties on all American goods, ahead of US President Donald Trump’s announcement of reciprocal tariffs today. The order was issued by Finance Minister Bezalel Smotrich and Economy and Industry Minister Nir Barkat, under the directive of Israeli PM Benjamin Netanyahu.

“Today we cancelled all of the customs duties levied on products from the US, Israel's largest trading partner. Cancelling the customs duties on American goods is an additional step in the policy that my governments have led for a decade in opening up the market to competition, introducing variety to the economy and lowering the cost of living,” Netanyahu wrote in an X post.

“In addition to the advantages to the market and to citizens of Israel, the current effort will allow us to further strengthen the alliance and ties between Israel and the US. We will continue to work to reduce barriers and customs, and bolster our special relationship with the US,” he added.

Today we cancelled all of the customs duties levied on products from the US, Israel's largest trading partner.Cancelling the customs duties on American goods is an additional step in the policy that my governments have led for a decade in opening up the market to competition,
Benjamin Netanyahu - (@netanyahu) April 1, 2025

The United States is Israel’s largest trading partner and also one of its closest allies. As of 2024, the export of goods to the US stood at USD 17.3 billion, while the export of services was at USD 16.7 billion.

On Monday, Trump said he will be “very kind” to trading partners when he announces his “Liberation Day” reciprocal tariffs on April 2, risking global turbulences to address what he calls unfair trade imbalances.

Trump will roll out the measures flanked by cabinet members in the Rose Garden of the White House at 4:00 pm (2000 GMT) -- after Wall Street markets close -- promising that they will stop America being "ripped off" and will deliver a new "golden age" of US industry.

But while Trump insisted he had decided on the reciprocal tariffs hitting countries that have targeted the United States, the White House admitted he was still ironing out the details with less than 24 hours to go late Tuesday.