Finance Minister Bezalel Smotrich has decided to raise the import duty rate on goods imported from Turkey to 100% and will bring the decision for government approval.
The decision comes in response to Turkish President Recep Tayyip Erdoğan's decision to stop all Turkish exports to Israel.
Smotrich's decision will abolish all reduced customs rates applicable to goods imported from Turkey to Israel that were put in place as part of the deal to establish a free trade zone between the two nations.
In addition, a duty will be imposed on any product imported from Turkey to Israel at a rate of 100% of the product's value in addition to the current customs rate.
The resolution draft that will be brought for government approval proposes that the resolution will be temporary until the term of the current Turkish president, who is behind the anti-Israel decisions, ends.
In addition, it suggests instructing the Ministers of Economy, Foreign Affairs, and Finance to take steps needed to strengthen Israeli industry and assist in diversifying Israel's import sources for products that were until now imported from Turkey to find alternatives and to reduce Israeli dependence on Turkish exports.
According to a survey by the Manufacturers Association of Israel, the countries that can be relevant alternatives for Israeli importers are China, Eastern European states, Greece, Germany, Cyprus, Taiwan, and others.
"Raising the duty rates on Turkish imports is a fair Zionistic answer to Erdoğan. Turkish President Erdoğan stands at the forefront of defending the Hamas-ISIS monsters who carried out the terrible massacre on October 7th and in his public statements challenges Israel's right to self-defense. His announcement to stop exports to Israel constitutes a declaration of an economic boycott and a crude violation of international trade agreements which Turkey committed to," Smotrich stated.
He noted that "for too many years, Israel has looked the other way in the face of Erdoğan antisemitism. Not on my watch. We have national honor and pride and a strong economy that doesn't need favors and certainly does need not fund those who fight us. If at the end of Erdoğan's term, the citizens of Turkey choose a sane leader who doesn't hate Israel, we can return the trade with Turkey to the high road."