Tel Aviv, Aug. 1 -- Israeli officials downplayed the impact of a new 15 per cent US tariff on Israeli imports on Friday morning, calling it relatively modest compared to harsher measures imposed on other nations.

The Finance Ministry emphasised that the lower rate reflects "the positive dialogue and discourse between Israel and the [Trump] administration," and confirmed ongoing negotiations aimed at reaching "a full and improved agreement."

The White House on Thursday unveiled a sweeping executive order from President Donald Trump raising import tariffs on 68 countries in a bid to favour American industry. While Israel faces a 15 per cent tariff, reduced from an initial 17 per cent floated in April, other countries were hit harder: Syri...