Israel’s Minister of Economy and Industry has announced the nation will impose tariffs on Canadian cannabis at rates as high as 165% for the next four years.
The decision still needs to be approved by the country’s Knesset Finance Committee and Finance Minister.
The move, which was based on allegations of “product dumping” into the Israeli medical cannabis market by Canadian companies, was opposed by Israel’s Ministry of Health and faced objections from Global Affairs Canada and numerous Canadian cannabis producers.
In July 2024, the Israeli government agency released its preliminary report on the topic, proposing tariffs from 63% to 369% depending on the cooperation of the companies involved.
Then, in a report published on November 10, Israel’s Director of Import Administration and Commissioner of Anti-dumping measures at the Ministry of Economy shared the agency’s final report, which had argued for rates as high as 175%.
In its adoption of the Minister of Economy’s Advisory Committee recommendations, the new levy tariffs will be 165% on all Canadian cannabis imported into Israel, except for Decibel (12%), Village Farms (28%), Organigram (53%), and Tilray (70%).
TO CONTINUE READING: StratCann
Chargement en cours...
