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Israel favours upgrading US free trade deal, economy minister says
Israel has proposed revamping its four-decade-old free trade agreement with the United States, aiming to prevent tariffs from its closest ally, according to Economy Minister Nir Barkat.
An upgraded trade pact would ease restrictions on data sharing to enable significant collaboration, Barkat said at a conference in Jerusalem.
The United States is Israel's biggest trading partner, with an estimated $37 billion in bilateral trade for 2024, based on US trade data.
President Donald Trump's administration announced sweeping tariffs on Israeli imports but paused them for 90 days to allow for further trade negotiations.