Lankford Calls for Strengthened Economic Ties with Israel
OKLAHOMA CITY, OK — Senators James Lankford (R-OK), Marsha Blackburn (R-TN), and Catherine Cortez Masto (D-NV), along with other members of the Senate Finance Committee, introduced a resolution calling for the strengthening of economic ties between the US and Israel. The resolution comes amid Israel’s war against Hamas in response to the terrorist group’s gruesome assault on southern Israel on October 7th, which has stunted Israel’s economy.
“The United States must stand alongside our greatest ally in the Middle East and maintain our free trade relationship with Israel. Through the Abraham Accords, I have worked to strengthen diplomatic and trade relationships with Israel and its partners in the region. The United States will not cut off our allies as terrorists strive for the destruction of Israel,” said Lankford.
“Ever since the US-Israel Free Trade Agreement was instituted in 1985, the strong economic relationship between Israel and the US has flourished,” said Blackburn. “While Israel faces an unprecedented war against Hamas, we must have their back. It is essential that we further trade and investment between our two countries in order to help boost Israel’s economy during this turbulent time.”
“I’m proud to introduce this bipartisan resolution to support Israel and demonstrate our commitment to working together to strengthen our two economies,” said Cortez Masto. “Let me be clear: the US stands with Israel, and I will continue working across the aisle to combat terrorism and bolster our alliance with our strongest ally.”
Senators Mike Crapo (R-ID), Thom Tillis (R-NC), John Barrasso (R-WY), Tim Scott (R-SC), Todd Young (R-IN), Bill Cassidy (R-LA), Bob Menendez (D-NJ), Ben Cardin (D-MD), and John Cornyn (R-TX) also joined the resolution. This resolution is endorsed by the National Taxpayers Union, the Center for Individual Freedom, and the Trade Alliance to Promote Prosperity.
The US-Israel Free Trade Agreement of 1985 has helped US-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 US last year. Israeli companies’ stock foreign direct investment in the US was $10.6 billion in 2022, supporting more than 20,000 American jobs.
Following the brutal attacks on Israel by Hamas, Lankford immediately issued a statement of our ongoing and unwavering support for Israel and the Israelis’ right to defend themselves. As co-founder and co-chair of the Senate Abraham Accords Caucus, Lankford and his fellow co-chairs also issued a powerful joint statement of support for Israel.
View the resolution here.