Tariffs and Terminology

Solitaire International: The diamond and jewelry industry is facing two policy battles in Washington that could shape the market for years to come: restoring zero tariffs on imports to the US and establishing clearer terminology for laboratory-grown diamonds.

Tariff exemptions have returned for natural diamonds from Europe and for several diamond-producing countries, but India, Canada, China, Israel, the UAE and other key trading partners remain subject to duties. The outcome will depend less on industry lobbying in Washington than on whether diamonds and jewelry remain part of broader trade negotiations between the US and those countries.

At the same time, the trade is preparing for the Federal Trade Commission’s next review of its Jewelry Guides, expected in 2028. While Russia, France and CIBJO are moving toward more restrictive use of terms such as “laboratory-grown,” US regulators are likely to focus on whether existing terminology confuses consumers.

The two issues require different approaches, but both underline a broader reality: the industry must make its case in terms that align with government priorities, not simply its own commercial interests.

Read the full analysis in my latest column for Solitaire International: Tariffs and Terminology.

Image: Diamond behind a steel barrier. (ChatGPT)