Representatives from the jewelry industry met in Washington, DC, with senior counsel for US President Donald Trump to discuss excluding diamonds from tariffs.

Jewelers of America (JA) CEO David Bonaparte headed to the capital on August 19 together with Tim Haake, managing director of the JA’s government affairs firm, Haake & Associates, and Ronnie VanderLinden, president of the International Diamond Manufacturers Association (IDMA). They met with Trump’s senior counselor for trade and manufacturing, Peter Navarro, and his staff to discuss the challenges the potential tariff increases pose for the US global supply chain, the JA said last week.

The group also discussed the possibility of adding diamonds to the Annex II list of products excluded from tariffs as a critical mineral.

Calling tariffs “a huge concern for the jewelry industry,” Bonaparte explained that “their full impact on pricing and consumer confidence is yet to be seen.”

“We are aggressively communicating to key members of the Trump administration to ensure the jewelry industry’s voice is heard,” he added. “We had a constructive exchange of views and had an opportunity to express the industry’s concern about the effect of tariffs on our members. We are hopeful for a favorable outcome.”

Image: Polished diamonds in tweezers. (Shutterstock)

Courtesy : Rapaport