Former Commerce Secretary Wilber Ross unpacked the impact of tariffs worldwide on ‘Kudlo’.
Israel announced on Tuesday that it is picking up all tariffs being planted on American products under the direction of the Prime Minister of Israeli. Benjamin Netanyahu And other Israeli leaders.
Netanyahu said that the move aims to compete more in the market, making the economy more diverse and reducing the cost of living for the people of Israel.
Netanyahu said in a statement, “In addition to Israel’s economy and economic benefits for citizens, this step will allow us to further strengthen coalitions and relations between Israel and the United States.” “We will continue to work to remove obstacles and tariffs and strengthen our special relations with the United States.”
Israel announced the plan in a joint statement in a joint statement by Netanyahu, Israeli Finance Minister Bezelle Smotrich, and the country’s economy and industry minister, NIR Barkat, just one day before the President Donald Trump American business partners are ready to levy mutual tariffs.
Wall Street firms see tariffs, trade wars see the risk of recession
President Donald Trump congratulated Israeli Prime Minister Benjamin Netanyahu as he visits the White House in Washington, DC on 4 February 2025. (Chip Somodeville / Getty Image / Getty Image)
America is Israel’s largest trading partner According to the Office of the United States trade representative, the closest associate with bilateral trade of $ 34 billion in 2024.
American business owner Trump Tariff, Boost is ready to benefit from ‘Made in America’ operations
The two colleagues signed a free trade agreement about 40 years ago, a deal that created about 99% of goods from the US tax-free.
In an aerial scene, Houston is seen in the Houston Port of Authority in Texas. President Donald Trump has announced that he will impose 25% tariffs on all foreign steel and aluminum imports in the United States. (Photo by Brandon Bell / Getty Image / Getty Image)
Israeli officials said the tariff reduction would be applied to “mainly US food and agricultural imports” very limited products “.
“The current administration presents a real opportunity for the two countries to shape a new strategic economic future for both countries, strengthening the central role of Israel,” Smotrich said.
The founder of the Lonsky Group John Lonski has done behind the uncertainty in the market on ‘Maria Bartiromo’s Wall Street’.
Trump has said that he will unveil a tariff suit on Wednesday, which he has described as “Liberation Day”. Trump’s promised tariff 25% tariff on steel and aluminum imports will come at the top of tariffs, 25% tariff on goods imported from Canada and Mexico, and 20% tariff on goods from China.
Get Fox Business when you click here
So far, Trump has not expanded Wednesday’s tariff, although he announced 25% tariff on auto imports earlier this week, which is expected to be effective late Wednesday night.
Anders Hagstrom of Fox News Digital contributed to this report.
