Netanyahu to meet Trump at White House for key talks on tariffs

The officials, who requested anonymity as they were not permitted to speak on the matter publicly, indicated that the leaders are expected to discuss various issues, including the ongoing conflict in Gaza.

Additionally, they may address the impact of Trump's tariffs, which include a 17 per cent increase on Israeli goods imported into the United States.

On April 2, Trump announced a widespread imposition of tariffs on countries worldwide. In February, soon after taking charge for the second time, Trump outlined a new trade policy focused on fairness and reciprocity and said that the US would implement reciprocal tariffs, charging other countries the same tariffs they impose on American goods.

Trump emphasised that tariffs would address unfair trade practices, including non-monetary barriers, subsidies, and VAT systems, while encouraging foreign countries to either reduce or eliminate tariffs against the US.

As per the announcements, the import tariffs on other major countries are China (34 per cent), the European Union (20 per cent), Vietnam (46 per cent), Taiwan (32 per cent), Japan (24 per cent), India (26 per cent), the United Kingdom (10 per cent), Bangladesh (37 per cent), Pakistan (29 per cent), Sri Lanka (44 per cent), and Israel (17 per cent).

From April 9 onwards, countries with the largest trade deficits with the US will face higher, individualised tariffs. India is one of the countries affected, with a 26 percent tariff imposed on all its exports.

Meanwhile, the US stock markets tanked more than 5 per cent on Friday after Donald Trump's reciprocal tariffs sparked fear among investors of a global economic recession.

The Dow Jones index closed with a decline of more than 5.50 per cent, making it one of the highest losses of the index. The S&P 500 index declined approximately 6 per cent by the closing, while Nasdaq tanked 5.73 per cent.