The US has placed tariffs of 10% on imports from all countries and higher duties on India, prompting concern and uncertainty in the diamond and jewelry industry. US President Donald Trump announced the move on Wednesday, saying the reciprocal tariffs would protect American workers and strengthen the nation’s economy.
The 10% levy will be the baseline for all countries and will go into effect on April 5, the White House explained in a fact sheet. There will be higher reciprocal tariffs on specific countries with which the US has the largest trade deficits, the document continued. These will take effect on April 9.
India, the world’s largest source of polished diamonds, will face a 27% tariff on US-bound shipments of all products, according to a list on the White House website. The European Union — home to Antwerp and many luxury jewelry brands — will face a 20% duty, while the tariff on Chinese imports will be 34%.
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