Israel
Israel’s economy: A Banana Republic run by monopolies
Israel increasingly resembles an economy captured by monopolies, where a small circle of powerful interests dominates key sectors and ordinary consumers foot the bill.
Israeli Prime Minister Benjamin Netanyahu is expected to visit the White House on Monday to discuss recently announced tariffs with U.S. President Donald Trump, three Israeli officials said on Saturday.
U.S President Donald Trump welcomes Israeli Prime Minister Benjamin Netanyahu at the entrance of the White House in Washington, U.S., February 4, 2025. Reuters/Leah Millis
Israeli Prime Minister Benjamin Netanyahu is expected to visit the White House on Monday to discuss recently announced tariffs with U.S. President Donald Trump, three Israeli officials said on Saturday.
The impromptu visit was first reported by Axios, which said that if the visit takes place, the Israeli leader would be the first foreign leader to meet with Trump in person to try to negotiate a deal to remove tariffs.
Netanyahu's office has not confirmed the visit, that would likely also include discussions on Iran and Israel's war against Palestinian militant group Hamas in Gaza.
The surprise invite by Trump came in a phone-call on Thursday with Netanyahu, who is presently on a visit to Hungary, when the Israeli leader raised the tariff issue, according to the Israeli officials who spoke on condition of anonymity.
As part of a sweeping new tariff policy announced by Trump, unspecified Israeli goods exports to the United States face a 17% tariff. The U.S. is Israel's closest ally and largest single trading partner.
An Israeli finance ministry official said on Thursday that Trump's latest tariff announcement could impact Israel's exports of machinery and medical equipment.
Israel had already moved to cancel its remaining tariffs on U.S. imports on Tuesday. The two countries signed a free trade agreement 40 years ago and about 98% of goods from the U.S. are now tax-free.
Israel increasingly resembles an economy captured by monopolies, where a small circle of powerful interests dominates key sectors and ordinary consumers foot the bill.
Israeli Prime Minister Benjamin Netanyahu accused Hamas on Wednesday of violating the Gaza ceasefire agreement after a military officer was wounded by an explosive device in Rafah and Israel vowed retaliation.
Israeli Defence Minister Israel Katz said on Tuesday that the military would never fully withdraw from the Gaza Strip for security reasons and that a civilian-military army unit would be established in the Palestinian enclave.
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