Netanyahu, Israeli leaders raise prices to strengthen the Israeli-American alliance

Former Secretary of Commerce Wilbur Ross unpacking the impact of prices worldwide on “Kudlow”.

Israel announced on Tuesday that it raised all prices imposed on American products towards Israeli Prime Minister Benjamin Netanyahu and other Israeli leaders.

Netanyahu said this decision aims to cultivate more competition on the market, make the economy more diverse and reduce the cost of living for the people of Israel.

“In addition to the economic advantages for the economy and the citizens of Israel, this decision will allow us to further strengthen the alliance and the links between Israel and the United States,” Netanyahu said in a statement. “We will continue to work to eliminate barriers and prices and to strengthen our special relationship with the United States.”

Israel announced the plan in a joint statement from Netanyahu, Israeli finance minister Bezalel Smotrich, and the Minister of Economy and Industry in the country, Nir Barkat, one day before President Donald Trump took reciprocal tariffs on American trade partners.

Wall Street companies see the risk of recession on prices, trade war

President Donald Trump welcomes Israeli Prime Minister Benjamin Netanyahu upon his arrival at the White House on February 4, 2025, in Washington, DC (Chip Somodevilla / Getty Images / Getty Images)

The United States is Israel's largest trading partner and the closest ally, the bilateral trade worth $ 34 billion in 2024, according to the office of the United States representative.

US owners are preparing to benefit from Trump prices to boost operations “ Made in America ''

The two allies signed a free trade agreement about 40 years ago, an agreement which concluded around 99% of the goods in the United States in tax franchise.

In an aerial view, operations are visible at the port of authority from Houston to Houston, Texas. President Donald Trump announced that he would impose a 25% rate on all foreign steel and aluminum imports in the United States. (Photo by Brandon Bell / Getty Images / Getty Images)

Israeli officials have said that this price reduction would apply to “a very limited number of products”, mainly American food and agricultural imports.

“The current administration presents a real opportunity to shape a new strategic economic future for the two countries while strengthening the central role of Israel as an economic partner,” said Smotrich.

The founder of the Lonski group, John Lonski, breaks down what is behind the uncertainty on the market on “Maria Bartiromo's Wall Street”.

Trump said he would reveal a series of prices on Wednesday, which he nicknamed “Liberation Day”. Trump's promised tariffs will come in addition to a price of 25% on steel and aluminum imports, prices of 25% on goods imported from Canada and Mexico, and a tariff of 20% on goods from China.

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Until now, Trump has not detailed the rates on Wednesday, although he announced a price of 25% on car imports earlier this week which is expected to come into force on Wednesday evening.

Anders Hagstrom of Fox News Digital contributed to this report.

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