Lawmakers urge expansion of U.S.-Israel trade pact

Source: Washington Post

The United States and Israel should start talks to upgrade and expand a 25-year-old free trade agreement that has become out of date, two U.S. Democratic lawmakers said on Thursday.

"Times have changed. It's right that we take a look at how we can modernize the free trade agreement," said Senator Ben Cardin, reacting to a new Democratic Leadership Council study that found only about 14 percent of U.S. imports from Israel are now covered by the pact.

The 1985 deal with Israel is the United States' oldest free trade agreement, predating even the North American Free Trade Agreement with Canada and Mexico.

When it was signed, Israel exported about $2.7 billion worth of goods and services to the United States and received about $3.7 billion in annual economic and military aid. Under the pact, Israel's exports to the United States have grown to around $25 billion annually, or about seven times combined U.S. military and economic aid, the DLC report said.


Read more: http://www.washingtonpost.com/wp-dyn/content/article/2010/04/15/AR2010041503823.html

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What I didn't know was that a free trade agreement could have such specific coverage that only 14% of imports would be covered after 25 years. I think of FTA's as covering all of one country's imports and exports to and from another country, not just items specific goods and services covered in the treaty.

Seeing as 75% of Congress supports Israel's actions right now, I'm guessing we'll be building weapons for them and selling them for reaaal cheap. But hey, we can always try and get those jobs unionized! :fistbump: