AWDC supports the World Diamond Council's (WDC) call to urge the U.S. Administration to exempt rough and polished natural diamonds from the proposed import tariffs.
An import tax on natural diamonds would, in practice, function as a consumer tax, leading to higher prices for diamond jewelry and causing significant disruption to the international diamond trade.
Such tariffs would hit the U.S. jewelry industry, which generates $117 billion annually and employs over 200,000 people, hard, and put its competitiveness at risk.
Granting an exemption for natural diamonds would help safeguard global supply chains, protect the competitiveness of U.S. manufacturing, and shield American consumers from unnecessary price increases.
Read the statement of the WDC here:
$117 Billion US Jewelry Industry at Risk in Diamond Tariff Review
· More than 200,000 US jobs in Jeopardy
· Industry United behind World Diamond Council in call for strategic exemption
New York, May 5, 2025 – The World Diamond Council (WDC), representing the international natural diamond value chain, acknowledges the U.S. Government’s emphasis on fair and reciprocal trade and advocates for policies that support strengthening American manufacturing to deliver tangible benefits to U.S. businesses, workers, and consumers.
In this spirit, the WDC respectfully urges the U.S. Administration to consider a targeted exemption for natural diamonds (HS Codes 7102.10 and 7102.31) from proposed tariffs and to include them on the Annex II list.
Natural diamonds are not produced in the United States but are vital to the health of the American jewelry industry, an essential contributor to the national economy.
The industry generates more than $117 billion in annual economic activity and supports over 200,000 American jobs.
U.S. jewelry sales total some $91.5 billion annually while domestic jewelry manufacturing and exports contribute around $15 billion and $10.5 billion respectively each year.
Around 25,000 Americans are employed in jewelry manufacturing with a further 193,000 in jewelry retail in communities all over the country.
A tariff on natural diamonds would put all of this at risk.
Tariffs on diamonds would function as a consumption tax, raising prices on engagement rings, anniversary gifts, and other jewelry purchased by American families. Retailers are already reporting concerns about inventory pressures, and the uncertainty is beginning to translate into higher prices for consumers.
An exemption for natural diamonds would help ensure stable supply chains, protect U.S. manufacturing competitiveness, and prevent added costs for American consumers.
The United States is the world’s largest consumer of natural diamond jewelry, and the U.S. jewelry industry, long known for its creativity, entrepreneurship, and craftsmanship, depends on continued access to these essential goods.
“We support President Trump’s drive for fair and reciprocal trade,” said World Diamond Council President Feriel Zerouki. “The current tariff review has highlighted the need for fair treatment across the board. Our members are united in calling on the U.S. Government to exempt natural diamonds and on governments around the world to support the exemption reciprocally, ensuring that trade policies support jobs, competitiveness, and consumers. The diamond industry is aligned, and our members will begin engaging directly with officials to support a positive resolution.”
