Senate Passes Resolution to Strengthen Economic Ties with Israel with Crapo Support

Washington, D.C.--The U.S. Senate unanimously passed a Senate Resolution that calls for the strengthening of economic ties between the U.S. and Israel.  The resolution comes amid Israel’s war against Hamas in response to the terrorist group’s gruesome assault on Israel on October 7, which has stunted Israel’s economy.  U.S. Senator Mike Crapo (R-Idaho) is an original co-sponsor of the Resolution.

“The United States maintains a strong economic partnership with Israel,” said Crapo.  “As Israel continues to defend itself against barbaric Hamas terrorists, the Senate unanimously affirms that trade and investment between our countries is vital for the continued success of our economic ties.  I firmly stand with Israel and will continue supporting its right to defend itself against those wishing to cause it harm.”

Background:

• The U.S.-Israel Free Trade Agreement of 1985 has helped U.S.-Israel trade grow more than sevenfold since that year and serves as an important tool for supporting the Israeli economy during this time.
• In 2022, American companies exported $14.2 billion in goods and $5.8 billion in services to Israel.  Major exports included machinery, mechanical appliances, stone, glass, metals and chemicals.
• Israeli companies exported $21.4 billion in goods and $9.2 billion in services to the U.S. last year.
• Israeli companies’ stock foreign direct investment in the U.S. was $10.6 billion in 2022, supporting more than 20,000 American jobs.

Crapo is a strong supporter of Israel and this week also joined a number of colleagues raising concerns with the Biden Administration over the resurgence of the Boycott, Divestment, and Sanctions (BDS) movement on college campuses to economically harm Israel and threaten Israel’s right to exist as a nation.

View the resolution here.

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