Israel to abolish free trade deal with Turkey in retaliation

Israeli Finance Minister Bezalel Smotrich on Thursday said Israel would abolish its free trade agreement with Turkey and also impose a 100% tariff on other imports from Turkey in retaliation for Turkish President Tayyip Erdogan's decision to halt exports to Israel.

The plan, he said, would be submitted to the cabinet for approval.

Earlier this month, Turkey said it was stopping exports to Israel during the duration of the Israel-Hamas war, citing "worsening humanitarian tragedy" in the Palestinian territories. But the Turkish Trade Ministry has said that companies have three months to fulfil existing orders via third countries.

"His [Erdogan's] announcement of the stoppage of imports to Israel constitutes a declaration of an economic boycott and a serious violation of international trade agreements to which Turkey has committed," Smotrich said in a statement.<...