United States announced that it will now place a 17 percent tariff on goods imported from Israel. This decision, made by US President Donald Trump, is part of a broader plan to add tariffs on products coming into the country from around the world.

A few hours before President Donald Trump slapped huge new tariffs on nearly all imports to the United States, Israel preemptively dropped all its tariffs on American goods. That's what some of Trump's defenders say is the goal of this whole madcap scheme: to get foreign countries to lower their barriers to American exports.

The Israeli government, just one day before Donald Trump's decision on Wednesday, canceled all tariffs on imports from the United States. Despite this move, the U.S. President imposed 17% retaliatory tariffs.