Economy Minister Nir Barkat revealed on Monday that Israel is prepared to adopt a “What’s Good for America is Good for Israel” in an effort in an effort to prevent further economic damage from U.S. tariffs.

“The Americans said ‘wait a minute, we want you to adopt what’s good in America is good for Israel,'” Barkat tells Bloomberg. “Immediately we said ‘okay, this is something important for them and we’re happy to do that.'”

Israeli officials were caught off guard when President Trump imposed a 17% levy on Israeli goods in March, just one day after Finance Minister Bezalel Smotrich eliminated all customs duties on U.S. imports. The timing has left negotiators scrambling to salvage a trade relationship that strongly favors the Israeli economy.

Consumer goods, machinery, and products related to safety and security constitute Israel’s primary imports from the United States. Barkat indicated that Israel had already agreed to several requests, which included lifting tariffs on U.S. agricultural goods.

“Both sides are very collaborative, both the Americans and us believe we can get to terms,” he said. “They have requested a few things and we believe we can agree to those terms for the benefit of the two countries.”

Israel currently maintains the largest trade surplus with the United States among all Middle Eastern countries, reaching $7.4 billion. That figure climbs even higher when accounting for Israeli tech-software exports, which constitute a significant portion of economic relations between both nations.

According to an analysis from the Manufacturers Association of Israel, Trump’s tariffs could cost Israeli exports $2.3 billion annually and eliminate between 18,000 and 26,000 jobs across multiple sectors. The hardest-hit sectors would likely include high-tech, biotech, plastics, metals, chemicals, fuels, robotics, and electronic components. With Trump threatening to extend tariffs to the pharmaceutical and semiconductor industries, Israel’s losses could balloon to $3 billion annually.