US-Israel Free Trade Agreement
- US-Israel Free Trade Agreement
The United States-Israel Free Trade Agreement is a trade pact between the State of Israel and the United States established in 1985 that lowers some barriers to trade in some goods.
History of Trade Agreement
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.
During the negotiations, the FBI found the American Israel Public Affairs Committee in possession of classified information outlining the US negotiating position. The document in question, a report from the International Trade Commission to US Trade Representative William E. Brock contained proprietary data provided by US corporations under conditions of strict confidentiality.
Since 1989, the US cumulative trade deficit with Israel has reached $62.65 billion, adjusted for inflation.
References
* [http://ustr.gov/Trade_Agreements/Bilateral/Israel/Section_Index.html USTR Site on US-Israel FTA]
* [http://IRmep.org/US-Israel_Trade.htm Quantitative Analysis of the US-Israel FTA]
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