In what seems to be a long drawn Trade War between U.S. and China, sectors accross the board are getting dearly affected, the diamond industry being one.
Nearly ten out of twelve diamonds are cut and polished in India. India exports cut and polished diamonds to both U.S. and China in a big way. China buys cut and polished diamonds from India to use in its studded jewellery and then exports it to the U.S. Right now, given the trade war, China is going easy on its buying and is going the wait and watch route.
The G-20 Summit scheduled to take place end of this month, where both Xi Jinping and Donald Trump are meeting to discuss about the ongoing conflict might give us the answer, whether or not the the purchase of polished diamonds will see the light of day.