The current tariff on diamonds from India – the world’s largest diamond exporter – stands at 25% and is set to rise to 50%, raising concerns across the jewellery trade. JA and other industry groups are calling for diamonds to be added to the Annex II list of tariff-exempt products as a critical mineral.

“The US does not produce natural diamonds but remains the largest consumer market globally,” JA said, noting that tariffs place a burden solely on American consumers and retailers rather than protecting any domestic mining industry.

JA president and CEO David Bonaparte stressed the urgency of the issue after a meeting with senior White House trade advisor Peter Navarro in Washington last week. “Tariffs are a huge concern for the jewellery industry and their full impact on pricing and consumer confidence is yet to be seen,” he said. “We are aggressively communicating to key members of the Trump administration to ensure the jewellery industry’s voice is heard.”

The World Diamond Council (WDC) and the World Federation of Diamond Bourses (WFDB) have echoed JA’s stance, urging the administration to reconsider the tariffs on rough and polished diamonds.

JA has also called on its members to share firsthand accounts of how the tariffs are affecting their businesses through its Legislative Action Center, in an effort to strengthen the industry’s advocacy campaign.