Israel–United States Free Trade Agreement

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The United States-Israel Free Trade Agreement is a trade pact between the State of Israel and the United States of America established in 1985 that lowers some barriers to trade in some goods. The agreement sets reduced rates of duty, and in some case eliminates all duty, on merchandise exported from Israel to the US.[1]

The agreement covers merchandise exported from Israel, the Gaza Strip and the West Bank.

History of Trade Agreement[edit]

Negotiations for the pact began January 1, 1984 and concluded February 1, 1985. The pact was signed on April 22, 1985. Implementing legislation was introduced into the U.S. Congress on April 29 of that year by Rep. James C. Wright, Jr. (D-Texas); it was ratified by the U.S. House of Representatives on May 7 by a 422-0 vote, and by the U.S. Senate on May 23 by a voice vote. The pact was signed into law by President Ronald Reagan on June 11, and implemented on September 1. It has no termination date. On January 1, 1995, all products produced in Israel that were eligible for reduced duty under the agreement became duty-free.[1][2]

References[edit]

  1. ^ a b Importers Manual USA: The Single Source Reference Encyclopedia for Importing to the United States. World Trade Press. 2003. p. 234. 
  2. ^ Overview and Compilation Of U.S. Trade Statutes, Parts I And II, 2010. Government Printing Office. 2010. p. 327.