US President Donald Trump renewed the "2004 Agreement" concerning certain agricultural trade with Israel for the new year, the White House announced on Monday.
The 2004 Agreement, also known as the United States-Israel Agreement Concerning Certain Aspects of Trade in Agricultural Products, details the quantities of specific Israeli agricultural products that may be brought into the US duty-free, including dairy products and peanuts.
Previous presidents have renewed the 2004 Agreement annually since 2008, when the original agreement was set to expire. This was done to make permanent modifications to the agreement, with each added year providing more time for the two governments to agree on a replacement.
Israel and US sign new agricultural agreement
On December 1, Israel and the United States signed a new agricultural trade agreement that modifies the 2004 Agreement, called the Agreement on Trade in Agricultural Products (ATAP). The new agreement was delayed in implementation, and an additional deal was made to extend the 2004 Agreement through 2006, to allow for the full implementation of ATAP.
The 2004 Agreement and ATAP are both based on the 1985 Agreement on the Establishment of a Free Trade Area between the Government of the United States of America and the Government of Israel (USIFTA).
USIFTA dictates that "when the President determines that it is necessary to maintain the general level of reciprocal and mutually advantageous concessions with respect to Israel provided for by the USIFTA, the President may proclaim such withdrawal, suspension, modification, or continuance of any duty, or such continuance of existing duty-free or excise treatment, or such additional duties, as the President determines to be required or appropriate to carry out the USIFTA."