Israel and the US are close to signing a new tariffs agreement, a year after the introduction of President Trump’s global tariffs policy. In the formula being drafted, Israel will buy more wheat from the US and will raise its tariff on wheat imports from Russia and Ukraine, which are currently its main sources. The state will subsidize wheat imports from the US by NIS 60 million annually for a decade. Relaxations and exemptions applying to wheat imports from Russia and Ukraine will be cancelled. In exchange for the deal on wheat, the US will apparently reduce tariffs on a series of Israeli products.