Manufacturers: Obama aid package will be ‘mortal blow’ to Israeli industry

By
May 5, 2016 06:04

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analysis from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

Shraga Brosh, the head of the Manufacturer's Association of Israel, urged Prime Minister Benjamin Netanyahu on Wednesday to reject a defense aid package deal reportedly proposed by US President Barack Obama, saying it would kill Israeli jobs and be a "mortal blow" to its defense industry.

"The Israeli government's acceptance of Obama's plan would be a mortal blow to Israel's defense manufacturing, and mean the loss of thousands of jobs in Israel in favor of the Americans," Brosh said. On Tuesday, Reuters reported that Obama wanted to ensure that all the funds in a new 10-year defense package would be spent on US-made arms, which would scrap the 26.3% of the aid that until now was converted to shekels and spent in Israel each year.



For five months, Obama and Netanyahu have been negotiating the terms of a new 10-year military aid package to replace the $30 billion package set to expire in 2018. Netanyahu reportedly sought to raise the figure by $10 billion, for an increase of roughly $1 billion a year, including guarantees for missile defense.

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

Breaking news
March 19, 2019
Judea and Samaria, Gaza crossings to be closed for Purim

By JERUSALEM POST STAFF