Prime Minister Meets Trump: Will Quickly Eliminate Trade Deficit with the United States

On Monday, April 7th, President Trump met with Israeli Prime Minister Netanyahu in the Oval Office of the White House. The Israeli Prime Minister stated that the two leaders discussed a series of issues, including Israel’s war in Gaza and Trump’s latest tariffs.

The White House canceled the press conference originally scheduled for Monday afternoon but allowed journalists to enter the Oval Office to ask questions to the two leaders.

During the opening remarks in the Oval Office, the two leaders referred to each other as “friends.”

Netanyahu said that Israel will eliminate trade deficits with the United States and other unnecessary trade barriers. He also stated that Israel will cancel tariffs on the U.S.

According to the United Nations COMTRADE international trade database, in 2024, Israel’s exports to the U.S. amounted to $17.36 billion, while U.S. exports to Israel were $14.79 billion.

Even before the U.S. announced the plan to impose reciprocal tariffs on 60 countries last week, Israel had expressed its willingness to eliminate tariffs on the U.S.

“I told the President that we will eliminate trade deficits with the U.S. We intend to do this quickly. We believe this is the right thing to do. We will also eliminate trade barriers, remove various unnecessary trade barriers,” Netanyahu said.

“I think Israel can be an example for many countries that should do the same,” he added.

Concerns about tariffs leading to economic downturns in various countries, as well as the Trump administration’s tough stance on tariffs, have led to volatility in global stock markets.

When asked if the White House is considering a “pause” on tariffs, President Trump responded, “We are not considering that possibility.”

“Many, many countries are coming to talk with us, bringing fair trade. In some cases, they will pay a lot of tariffs,” the President said.

Trump cited a conversation he had earlier today with the Prime Minister of Japan, which was very pleasant.

“I said one thing, you must (open your country to the U.S.),” the President said.

When asked whether U.S. tariffs are permanent or a negotiation strategy, the President seemed to imply a combination of both: “It can be permanent tariffs, and negotiations can also take place because we also need some things other than tariffs. We need open borders,” he replied.

Earlier today, Kevin Hassett, the Chairman of the White House Council of Economic Advisers, stated that Monday’s meeting would be President Trump’s first attempt to engage in face-to-face discussions with a foreign leader about tariffs.

In an interview with Fox News on Monday morning, Hassett was asked if the Trump administration might announce a “90-day pause” on tariffs. He responded at the time, “I think the President will make the decision he wants to make.”

Subsequently, several news outlets reported that Trump was considering suspending tariffs for 90 days. The White House refuted this, adding that “not only did Hassett not say that, and the President has made it clear – ‘Countries must change (policies), especially China.'”

The U.S. Treasury Secretary posted on X in the afternoon, that after a very constructive phone discussion with the Japanese government, President Trump has instructed the Treasury Secretary and Trade Representative to engage in tariff negotiations with Japanese Prime Minister Yoshihide Suga and his cabinet.

This is seen as the official beginning of negotiations and is a positive signal related to tariffs being released to the outside world.

According to the written materials prepared by the U.S. Trade Representative for Tuesday’s congressional testimony, the U.S. has received calls from over fifty countries to discuss matters related to tariffs.