Israeli Finance Minister Bezalel Smotrich on Thursday said he was convening ministry officials to formulate a course of action to protect Israel's economy.
This was after the decision of the US President Donald Trump to impose tariffs on exports.
As part of a sweeping new tariff policy, Israeli goods exports to the United States will be subject to a 17% tariff.
According to Smotrich, he would discuss with ministry officials, after speaking with economic leaders, how to analyse opportunities and risks and formulate courses of action, both in relation to President Trump and his team and regarding the necessary steps to strengthen Israel's industry.
DAILY POST reports that US President Donald Trump on Wednesday unveiled a 10% minimum tariff on most goods imported to the United States, with a higher 20% rate for the European Union.
While the minimum baseline 10 percent levy applies to all nations, a number of countries face reciprocal tariffs.
Trump referred to April 2, the new tariff plan take off date, as “Liberation Day,” saying the U.S. had been ripped off for many years.
The president already imposed 25 percent tariffs on all foreign-made vehicles as well as 25 percent tariff on imports of steel and aluminum.
