Israeli prime minister Benjamin Netanyahu said on Monday that he would end tariffs on US assets as President Donald Trump’s reciprocal tariffs will enter into force on Wednesday.
Netanyahu announced a duration of a press conference from the Oval office along with Trump that Israel will end the “commercial deficit with the United States” quickly.
“I can tell that I told the president very simple: we will eliminate the commercial deficit with the United States. We intend to do it very fast,” Netanyahu told journalists.
“We believe it is the right thing, and we are also going to eliminate commercial barriers, a variety of commercial barriers that have presented unnecessarily. And I think Israel can serve as a model for many countries that should do the same.”
Netanyahu also expressed empathy for Trump’s position on commercial imbalances:
I recognize the position of the United States. He says: “You know, we are allowing another country to put tariffs, but we don’t put rates.” And, you know, I am a free trade champion, and free trade has to be a fair trade. And I think that is basically the position he has presented, Mr. President.
Netanyahu also pointed out that he spoke on Sunday to the Secretary of Commerce Howard Lutnick about Sunday to make this change in tariff policy quickly.
Last Wednesday, Trump announced its global reciprocal and reference tariffs worldwide, which included a reciprocal 17 percent reciprocal tariff on Israel. A day before, Israel had announced that the “customs duties” or tariffs in all US assets would end.
Basal Trump tariffs in all countries entered into force on Saturday, while reciprocal tariffs will enter into force on Wednesday. Trump pointed out Monday morning that many countries have communicated in recent days before tariffs enter into force.
“Countries around us are talking to us. Difficult but fair parameters are being established. He spoke with Japanese prime minister this morning. He is sending a superior team to negotiate!” Trump wrote in a social publication of truth.
“They have treated the United States very poor in commerce. They do not take our cars, but we take millions of their own. Similarly, agriculture and many other things.” Everything has to change, but especially with China! Hey added.
