DiamondBuzz
Antwerp secures zero percent U.S. import tariff on natural polished diamonds
Antwerp has secured a zero percent U.S. import tariff on natural polished diamonds of European origin, a move expected to reinforce the city’s status as a global diamond hub.
The exemption, effective retroactively from Sept. 1 under a U.S. executive order, eliminates the standard 15% duty on EU-polished stones. It follows negotiations between the European Commission and Washington that also covered metals, pharmaceuticals and chemicals.
Diamonds polished in Antwerp account for about half of the $2.1 billion in annual polished diamond exports to the U.S. “For goods of European origin polished in Antwerp, the 15% tariff will no longer apply,” said Karen Rentmeesters, CEO of the Antwerp World Diamond Centre.
She added that the decision sets a precedent for other diamond producers and polishing centers to seek similar deals, a potential boon for Belgian diamantaires trading stones polished in India.
The AWDC credited the Belgian government and the European Commission for backing the case, noting that the U.S. market depends entirely on imports to meet demand.
In a clear sign of the growing strategic importance of lab-grown diamonds for technological applications, the Spanish government has committed a massive EUR 750 million (approximately $813 million) investment to Diamond Foundry’s new manufacturing plant in Trujillo.
This significant funding injection is specifically earmarked for the production of semiconductor-grade, lab-grown diamonds. It dramatically boosts the project’s war chest, adding to the initial EUR 80 million in funding that the European Union had already pledged last December.
The Trujillo facility is poised to become the largest of its kind in Europe, specializing in high-tech, industrial, and semiconductor-grade diamonds.
- Projected Output: When operations begin—anticipated sometime between 2027 and 2029—the plant is expected to yield over 4 million carats annually, with production slated for substantial increases thereafter.
- Total Project Value: The full cost of the Trujillo project is reported to be a staggering EUR 2.35 billion.
This monumental investment underscores a key trend in the lab-grown diamond sector: a heavy pivot away from the jewelry market and toward high-value industrial and technological applications.
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