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Note: by having the USA abstain from that UN vote right at the end of his presidency, Obama made it possible (ie legal) for us to do this.
If we were targeting Israel specifically, we would run afoul of all sorts of EU regulations since external trade policy falls under EU competency. HOWEVER, because there is a UN resolution specifically identifying the Israeli-occupied Palestinian territories as illegal occuptions under international law, it's possible for us to pass a law that doesn't specifically target Israel by name, but rather target any territory that is illegally occupied.
If Brussels takes issue with the ban and tries to fine us for some trumped-up reason like arguing that we're exceeding our reserved competencies, that would initiate legal proceedings which would give us standing to counter and argue that we are only meeting our international obligations as outlined by the UN, and furthermore that the EU-Israel trade deal has a boilerplate clause requiring Israel to meet certain human rights criteria or the entire trade deal goes kaput.
Basically if the EU takes us to court over this, we'll be able to force the argument to be over whether Israel is violating human rights, at which point (because judges are not politicians) the court will almost certainly side with us, which would THEN put Brussels into the legal position where they're OBLIGED to ban these goods EU-wide.
Because Brussels knows this, they're likely to try and avoid initiating proceedings, turning a blind eye. However a lack of consequences for us would embolden other EU members to copy us. Basically it's a rock and a hard place for Brussels.
Just pointing this out so that people see that UN votes DO matter.
I hope you're right, but my cynicism has doubts.
Obama's been gone almost a decade at this point and we still have yet to pass this bill because the government always backs down at the last minute in the face of threats from the US that it would "force" US companies to not do business with us. The Dáil (parliament) supports the bill but the cabinet shoots it down. So you're not wrong to be cynical, but every time Israel commits some fresh outrage the pressure grows for the government to pass it or risk losing the next election.