Us Israel Free Trade Agreement Text

6. In the event that temporary trade measures in paragraph 1 are implemented, consultations on the balance of payments situation will be held between the parties, including to examine other economic measures that could be taken to resolve balance-of-payments problems to allow for the early elimination of temporary trade measures. Significant strengthening of trade measures can lead to consultations between the parties. 1. a. A contracting party may apply temporary trade measures when threatened or suffers from a severe balance-of-payments situation. A party can only impose temporary trade measures to give time to take macroeconomic adjustment measures to address its balance-of-payments problems. Temporary trade measures authorized under this paragraph are not used to protect certain sectors or sectors. (2) The temporary trade measures that can be applied in accordance with paragraph 1 are as follows: trade in services with Israel (exports and imports) was estimated at $13.2 billion in 2017. Services exports were $5.9 billion; Imports of services amounted to $7.4 billion.

The services trade deficit with Israel was $1.5 billion in 2017. 1. Contracting parties will re-extend their current and future veterinary and plant health provisions to ensure that these provisions are applied in a non-discriminatory manner and do not result in undue interference with trade. B. Before a party commits to unilaterally or by mutual agreement measures to reduce trade barriers for third countries, including those with which that party intends to adopt a customs union, a free trade area, a border trade regime or those to which that party intends to unilaterally grant trade concessions, it notifies in advance , if possible, the other party in writing to the other party. 5. The temporary trade measures applied under paragraph 1 are compatible, in terms of duration and effect, with the seriousness of the balance-of-payments problem to which the contracting party imposes action and are gradually relaxed as the balance of payments situation of that party improves. The ESTV also contains a declaration on trade in services, a non-binding letter of intent to remove barriers to trade in services such as tourism, communication, banking, insurance, business advice, accounting, law, IT services and advertising. The United States and Israel also signed an agreement on agriculture to reduce barriers to agricultural trade and boost agricultural trade between the two countries. Finally, the free trade agreement contains provisions to protect American industry. For example, certain non-tariff restrictions on the import of agricultural products are permitted.

c. Review the results of this agreement, the experience gained in its work and the objectives set out in it, and the consideration of opportunities to improve trade relations between the parties, including possible improvements to this agreement. The adoption of amendments is subject to the national legislation of both parties; 1.