04-04-2025
- Business
- Wall Street Journal
Israel Hit With 17% Tariffs Despite Saying It Would Scrap Levies on U.S. Goods
Israeli officials reacted with shock to a 17% tariff on products exported to the U.S., having signed a directive a day earlier scrapping all remaining tariffs on American imports.
Israel's exports of goods to the U.S., including diamonds, medicine and electronic equipment, are estimated at around $22 billion a year, according to U.S. trade data. The current understanding in Israel is the tariffs won't be imposed on services, meaning the country's high-tech industry is largely likely to be spared, officials said.
'We are all going to feel this in our pockets,' said Ron Tomer, president of the Manufacturers Association of Israel, on local radio Thursday. Tomer said the step by Israel's close ally felt like 'abandonment by a friend.'
