WASHINGTON, D.C. – Senator Thom Tillis and his colleagues recently introduced a resolution calling for the strengthening of economic ties between the U.S. and Israel. The resolution comes amid Israel’s war against Hamas in response to the terrorist group’s gruesome assault on southern Israel on October 7th, which has stunted Israel’s economy.
“This resolution reiterates America’s support for the Israeli people and their economy following the brutal attacks carried out by Hamas on October 7th,” said Senator Tillis. “I am committed to working with my colleagues to ensure America and Israel’s economic relationship continues to thrive and grow during this difficult time.”
The U.S.-Israel Free Trade Agreement of 1985 has helped U.S.-Israel trade grow more than sevenfold since its inception and is an essential tool for supporting the Israeli economy during this time. In 2022, American companies exported $14.2 billion in goods and $5.8 billion in services to Israel. Major exports included machinery, mechanical appliances, stone, glass, metals, and chemicals. Israeli companies exported $21.4 billion in goods and $9.2 billion in services to the U.S. last year. Israeli companies’ foreign direct investment in the U.S. totaled $10.6 billion in 2022 and supported more than 20,000 American jobs.
This resolution is endorsed by the National Taxpayers Union, the Center for Individual Freedom, and the Trade Alliance to Promote Prosperity.
Text of the resolution is available HERE.