Israeli officials downplay impact of new US tariffs

Tel Aviv [Israel], August 1 (ANI/TPS): Israeli officials downplayed the impact of a new 15 per cent US tariff on Israeli imports on Friday morning, calling it relatively modest compared to harsher measures imposed on other nations.
The Finance Ministry emphasised that the lower rate reflects "the positive dialogue and discourse between Israel and the [Trump] administration," and confirmed ongoing negotiations aimed at reaching "a full and improved agreement."
The White House on Thursday unveiled a sweeping executive order from President Donald Trump raising import tariffs on 68 countries in a bid to favour American industry. While Israel faces a 15 per cent tariff, reduced from an initial 17 per cent floated in April, other countries were hit harder: Syria at 41 per cent, South Africa at 30 per cent, and Canada at 35 per cent, up from 25 per cent.
The new tariffs will take effect within seven days.
A White House statement acknowledged that Israel's rate was lowered during final deliberations, but said the measure still represents a shift in trade terms between the two allies.
Dr. Ron Tomer, president of the Manufacturers' Association of Israel, expressed disappointment, saying the decision fell short of expectations given the close bilateral ties.
"It would have been appropriate to expect Israel's great friend to reduce the tariff even further," he said, "to a level that would express the closeness and special relations between the countries in all areas, including economic and industrial."
Despite the friction, Israeli officials remain optimistic that a negotiated solution can soften the blow of the policy. Talks with U.S. counterparts are expected to continue in the coming weeks. (ANI/TPS)