Israel–United States Free Trade Agreement
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 lowered 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 United States.[1] The agreement covers merchandise exported from Israel, the Gaza Strip and the West Bank.
The U.S.–Israel FTA was the United States' very first FTA[2] and has no termination date. It is the only FTA the United States has signed that does not include a chapter on intellectual property rights, which have become a staple of all subsequent U.S. trade treaties.[3]
History
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.
On January 1, 1995, all products produced in Israel that were eligible for reduced duty under the agreement became duty-free.[1][4]
References
- 1 2 Importers Manual USA: The Single Source Reference Encyclopedia for Importing to the United States. World Trade Press. 2003. p. 234.
- ↑ "Israel Free Trade Agreement". Office of the U.S. Trade Representative. Retrieved April 27, 2015.
- ↑ "International Copyright Relations of the United States (Circulation 38A)" (PDF). United States Copyright Office. January 2014.
- ↑ Overview and Compilation Of U.S. Trade Statutes, Parts I And II, 2010. Government Printing Office. 2010. p. 327.