Amid the massive trade tariff war initiated by US President Donald Trump following the Liberation Day rollouts, Israeli Prime Minister Benjamin Netanyahu on Monday announced plans to swiftly eliminate Israel라이브 바카라 trade deficit with the US. Under the new rules, Israel faced an imposition of 17 percent tariff from it closest ally.
The discussions between the two state leaders took place after Israel shattered ceasefire rules amid the 18-month-long devastating war on Gaza killing thousands of Palestinians. After launching a number of airstrikes and killing many, on April 2, Israel has announced its intention to further expand the war to add "pressure on Hamas."
Netanyahu was the first foreign leader to meet Trump after the global tariff rollout on April 2 Liberation Day.
As per media reports, during his White House meeting with Trump, Netanyahu announced that his country will work towards eliminating the trade deficit with the United States very quickly. “We’re going to eliminate the tariffs and rapidly,” Netanyahu said while Trump kept the suspense alive over renegotiating Israel's tariff rates saying he 'may or may not' do that as US 'helps out' Jerusalem a lot, according to a report by Times Now.
Netanyahu also asserted that Israel could be a model for other countries follow the same path ins trade dealing with the US. According to data from the office of the United States Trade Representative, the US goods trade deficit with Israel was $7.4 billion in 2024, an 8.6 percent increase ($587.0 million) over 2023.
The White House Cancels Press Conference
It has been reported the White House on Monday called off a scheduled joint press conference of Trump and Netanyahu amid a major backlash over tariffs as the markets kept on bleeding for the third day in response to Trump's Liberation Day reciprocal tariffs.
There was no explanation for the surprise cancellation, reports said, adding that a smaller meeting with leaders was still scheduled to take place
50% Additional Tariff On China
In a dramatic escalation of the ongoing trade conflict, US President Donald Trump has threatened to impose 50% additional tariffs on Chinese imports unless Beijing withdraws its retaliatory tariffs by April 8, 2025. The announcement, made on Monday, has raised concerns about further deterioration in U.S.-China trade relations.
In a post on TruthSocial, Trump issued a stern warning to China: “If China does not withdraw its 34 percent increase above their already long-term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50 percent, effective April 9th.”
Bloodbath In Global Stock Market
The tariff rivalry between United States and China has led to a massive stock market crash on Monday as both Sensex and Nifty dropped over 5 per cent amid massive sell-offs across the board. US President Donald Trump imposed tariff hikes on 60 countries last week and retaliation from China has triggered the fear of possible trade war between the two which will impact economic growth across the globe.
In Asian markets, Hong Kong's Hang Seng index tanked more than 12 per cent along with Tokyo's Nikkei 225 plunging nearly 8 per cent, Shanghai SSE Composite index dropping about 8 per cent and South Korea's Kospi sanking over 5 per cent.
US markets ended sharply lower on Friday. The S&P 500 plummeted 5.97 per cent, Nasdaq composite slumped 5.82 per cent and the Dow tumbled 5.50 per cent on Friday.
Indian equity indices closed on a weak note on April 7, with the Nifty falling below 22,200 amid broad-based selling across sectors. At the close, the Sensex was down 2,226.79 points, or 2.95%, at 73,137.90, while the Nifty dropped 742.85 points, or 3.24%, to settle at 22,161.60.
