Israel favours upgrading US free trade deal, economy minister says
JERUSALEM, April 28 (Reuters) - Israel has proposed revamping its four-decade-old free trade agreement with the United States, its economy minister said on Monday, as it looks to head off tariffs from its closest ally.
An upgraded trade pact would ease restrictions on data sharing that would enable significant collaboration, Economy Minister Nir Barkat told Reuters at a conference in Jerusalem.
He said Israel had already agreed to several requests, which included lifting tariffs on U.S. agricultural goods.
Most U.S. goods are already exempt from Israeli tariffs under a 1985 trade deal. The U.S. is Israel's biggest trading partner with bilateral trade worth an estimated $37 billion in 2024, according to U.S. trade data. Last year, Israel had a $7.4 billion trade surplus with the United States.
President Donald Trump's administration this month announced sweeping tariffs on dozens of countries, including a 17% levy on Israeli imports, before saying there would be a 90-day pause with a baseline 10% tariff on imports to allow for trade negotiations.
Prior to the sweeping tariffs announcement, Israel said it would lift all remaining import duties on U.S. goods and Prime Minister Benjamin Netanyahu met with Trump in Washington.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Herald Scotland
27 minutes ago
- The Herald Scotland
Iran says no nuclear talks with Trump, Israel without ceasefire: Live
"There is no room for negotiations with the U.S. until Israeli aggression stops," Araghchi was quoted as saying on Iranian state TV on June 20. But the airstrikes kept coming. Israel said it hit Iranian missile facilites overnight, while an Iranian missile stuck in southern Israel. The number of casualites were unclear. Iran said June 16 that 240 people had been killed in Israeli attacks. At least 24 Israelis have been killed by Iranian fire. Follow along with USA TODAY for live updates of the Israel-Iran crisis. Explosions heard over Tel Aviv For the eighth day in a row, the consussion of missile and interceptors echoed over Tel Aviv. Iranian news reports said a new fusillade of missiles had been fired toward Israel. Israeli officials said they were working to intercept the ballistic missiles. While taking a pummeling from Israel, Iran has managed several times to pierce its enemy's "Iron Dome" defensive shield, striking neighborhoods, hospitals and a research institute.
Daily Mail
an hour ago
- Daily Mail
Trump's top spy confirms worst fears about Iran after public rebuke from president as US prepares military strike
Tulsi Gabbard finally responded to claims that she said Iran did not have nuclear capabilities after Donald Trump called her 'wrong' on the issue. Trump's Director of National Intelligence had testified in March that the U.S. intelligence community 'continues to assess Iran is not building a nuclear weapon.' She posted to X Friday that 'The dishonest media is intentionally taking my testimony out of context and spreading fake news as a way to manufacture division. America has intelligence that Iran is at the point that it can produce a nuclear weapon within weeks to months, if they decide to finalize the assembly. President Trump has been clear that can't happen, and I agree.' Gabbard included video of her testimony from March that while the intelligence community suggests that, the Iranians appear clearly to have 'enriched uranium stockpiles at its highest levels and is unprecedented for a state without nuclear weapons.' She also noted that Iran 'contains a wide range of threats' to the United States and Israel. Gabbard said that Iranian Supreme Leader Ayatollah Ali Khamenei had 'not authorized a nuclear weapons program that he suspended in 2003.' Trump said earlier Friday that Gabbard was wrong when she said that Iran wasn't building a nuclear weapon. 'Well, then my intelligence community is wrong,' he said Friday at Joint Base Andrews, to a question about what evidence he had that Iran was building a nuclear bomb. But Trump said Friday as he was departing for his Bedminster, New Jersey golf club 'it looked like I'm right about the material that they've gathered already.' 'It is a tremendous amount of material and I think within a matter of weeks or certainly within a matter of months they will be able to have a nuclear weapon and we can't let that happen,' Trump said. After landing in New Jersey for an evening fundraiser for his super political action committee, Trump was asked about Gabbard's comments to Congress in March that U.S. spy agencies believed that Iran wasn't working on nuclear warheads. The president responded, 'Well then, my intelligence community is wrong. Who in the intelligence community said that?' Informed that it had been Gabbard, Trump said, 'She's wrong.' Still, disavowing Gabbard´s previous assessment came a day after the White House said Trump would decide within two weeks whether the U.S. military would get directly involved in the conflict between Israel and Iran. It said seeking additional time was 'based on the fact that there´s a substantial chance of negotiations that may or may not take place with Iran in the near future.' But on Friday, Trump himself seemed to cast doubts on the possibility of talks leading to a pause in fighting between Israel and Iran. He said that, while he might support a ceasefire, Israel's strikes on Iran could be 'very hard to stop.' Asked about Iran suggesting that, if the U.S. was serious about furthering negotiations, it could call on Israel to stop its strikes, Trump responded, 'I think it´s very hard to make that request right now.' 'If somebody is winning, it´s a little bit harder to do than if somebody is losing,' Trump said. 'But we´re ready, willing and able, and we´ve been speaking to Iran, and we´ll see what happens.' The president later added, 'It´s very hard to stop when you look at it.' 'Israel´s doing well in terms of war. And, I think, you would say that Iran is doing less well. It´s a little bit hard to get somebody to stop,' Trump said. Earlier Friday, reported that Gabbard has been the target of a smear campaign from 'deep state' intelligence officials seeking to undermine her influence through strategic leaks as President Trump ponders whether to join Israel's war against Iran, those close to her tell the Daily Mail. Gabbard is in the room, helping the president and his team determine an informed path forward, these officials stressed, pushing back against multiple reports indicating that she's been sidelined. In fact, the president is calling on her, the sources claim. Multiple intelligence officials spoke with the Daily Mail about Trump's spy chief's schedule and work since Israel launched an attack on Iran last week, shedding light on a normally clandestine affair. 'All the National Security Council meetings she's in on, and then, I mean, there's lots of impromptu ones where he's calling her into the office,' one senior intelligence official shared. 'She's in there at all the key junctures,' the source added. 'She's been in every meeting,' a White House official told the Daily Mail, adding the DNI 'has not been sidelined whatsoever.' Reports have suggested that Trump has been advised by a smaller cohort, including VP J.D. Vance, CIA Director John Ratcliffe, Secretary of State Marco Rubio and Chairman of the Joint Chiefs of Staff Dan Caine. They say Gabbard and Pentagon Sec. Pete Hegseth are on the outside looking in. But these Gabbard allies told the Daily Mail the DNI has attended practically every crucial meeting at the White House and Situation Room since the conflict began. Vice President Vance also threw his weight behind Gabbard with a glowing social media post: 'She's an essential member of our national security team, and we're grateful for her tireless work to keep America safe from foreign threats.' The White House official added that Hegseth has also been an integral member of ongoing military discussions regarding the Middle East. Trump campaigned on decrying 'endless wars' and has vowed to be an international peacemaker. That's led some, even among conservatives, to point to Trump´s past criticism of the U.S. invasion of Iraq beginning in 2003 as being at odds with his more aggressive stance toward Iran now. Trump suggested the two situations were very different, though. 'There were no weapons of mass destruction. I never thought there were. And that was somewhat pre-nuclear. You know, it was, it was a nuclear age, but nothing like it is today,' Trump said of his past criticism of the administration of President George W. Bush. He added of Iran´s current nuclear program, 'It looked like I´m right about the material that they´ve gathered already. It´s a tremendous amount of material.' Trump also cast doubts on Iran's developing nuclear capabilities for civilian pursuits, like power generation. 'You´re sitting on one of the largest oil piles anywhere in the world,' he said. 'It´s a little bit hard to see why you´d need that.'
Daily Mail
2 hours ago
- Daily Mail
Revealed: The popular tourist destination where Brits will get the best exchange rate
It feels like it's getting more and more expensive to go abroad, and many Brits are really feeling the pinch when it comes to their holidays. But there's a popular tourist hotspot where your pound will stretch further than anywhere else. Post Office Travel Money's Holiday Spending Report looked at how sterling is performing against its 30 bestselling currencies compared with 12 and three months ago. It reveals that visitors to Turkey from the UK will get the most for their money, due to the ongoing, long-term collapse of the Turkish lira. Over the past three months, the lira has fallen by 12.9 per cent against the pound. And, compared with last June, visitors can now expect to receive around £116 (+30.2 per cent) more when they buy £500 worth of lira. The report also reveals the sterling has bounced back against the US dollar and is currently 6.6 per cent stronger than it was a year ago, and has gained 4.9 per cent in the past three months. For £500, tourists will now receive almost £31 more of US dollars, than they would a year ago. The report also reveals the sterling has bounced back against the US dollar and is currently 6.6 per cent stronger than it was a year ago, but Brits are turning their back on the States Despite this bang for your buck, the report found that many Brits are turning away from travelling to the States. Over half (53 per cent) of those surveyed said they'd actively avoid destinations where they think President Donald Trump's tariffs could affect resort prices, and 39 per cent said they categorically will not travel to the States. But those not wanting to go to the US can still benefit from the dollar recovery, as it extends to the Caribbean and Middle East currencies pegged to the dollar. It means Brits planning trips to Barbados, Antigua, Dubai, and other long-haul holiday favourites will get more for their pounds. Meanwhile, holidaymakers rated Spain (41 per cent), Turkey (35 per cent) and Thailand (31 per cent) best value for money out of 39 worldwide destinations. However, the report found the Thai baht was one of only five of the 30 bestselling currencies to rise in value against sterling. A sterling year-on-year fall of 5.2 per cent means that British visitors will get £27.64 fewer Thai baht on a typical £500 currency transaction. Given that almost half (48 per cent) of holidaymakers said they will choose their destination based on the strength of sterling, two other Far Eastern destinations – Vietnam and Bali - will actually offer Brits more for their money. Visitors to Vietnam will get the equivalent of £42.01 – or 9.2 per cent extra - on a £500 purchase of Vietnamese dong. Those choosing Bali, fourth-placed in the barometer, can expect around £33 (7.1 per cent) more in Indonesian rupiah than a year ago. Laura Plunkett, Head of Travel Money at Post Office, said: 'This year's holiday spending research again demonstrates that holidaymakers don't always set a realistic budget and overspend by large amounts as a result. 'It's great to hear that holidaymakers are already planning to budget more for their holidays this year, to avoid coming unstuck when they arrive at their destination.'
