Photo: Reuters
Israeli Finance Minister Bezalel Smotrych initiated an urgent meeting with the leadership of the Ministry of Finance and representatives of the country’s key economic associations – the Presidium of the Business Sector, the Association of Industrialists and the Chamber of Commerce and Industry. The reason was the new duties imposed by the United States on Israeli products.
This was stated in an official statement by the press service of the Israeli Ministry of Finance on 3 April.
Evaluate the consequences and prepare response steps
“We are working to assess the consequences for the country’s economy that the US duties may cause and are considering further steps,” the ministry said in a statement.
This is a potentially sensitive blow to Israeli exports, especially in the areas of high-tech products, industrial goods and components supplied to the United States, one of Israel’s main trading partners.
Entrepreneurs sound the alarm
According to the Israeli media, representatives of the business community have already expressed concern that the new duties could significantly affect the competitiveness of Israeli goods in the US market, especially in the context of the global economic slowdown and instability caused by regional conflicts.
What’s next?
The Ministry of Finance does not say what decisions may be taken, but analysts suggest that Israel may turn to diplomatic channels to revise duties, as well as intensify the search for new markets to reduce dependence on US imports.
The situation remains dynamic, and amid growing geopolitical tensions, the economic consequences of such decisions could go far beyond purely trade issues.
