DiamondBuzz
De Beers CEO: confident the US will exempt diamonds from reciprocal tariffs
De Beers CEO Al Cook says he’s confident the US will exempt diamonds from reciprocal tariffs.He told the FT they were of “no benefit”, given that there are no US diamond mining jobs to protect, and that they would function as nothing more than a tax on American consumers.”People are confident enough that in the long term, diamonds will be exempted from tariffs,” he told the FT, indicating that an exemption may happen, but not immediately.
Cook echoed the views of World Diamond Council president Feriel Zerouki, who is urging the Trump administration to exclude natural diamonds from a tariff due to be implemented on 9 July, when a 90-day pause expires.
Diamonds, along with almost all other goods from all other countries, are currently subject to a baseline levy of 10 per cent on entry to the US, payable by the importer.
Cook, and many others, are calling for diamonds to be exempted from the additional burden of reciprocal tariffs, set at 26 per cent for India, by far the biggest supplier of polished stones, and on a sliding scale for other trading partners.
The US is the world’s largest diamond jewelry market by far, but has no domestic diamond mining industry.
“This is not about special treatment, this is about recognizing the unique structure of a global industry with no domestic production and ensuring policies support American businesses and consumers,” Zerouki said last week.
An exemption would help safeguard the $117bn US jewelry industry and protect the jobs of over 200,000 Americans, she said.
DiamondBuzz
Motorsport Meets High Jewellery: Hannah St John Turns Heads with ‘La Velocita’ Diamond Necklace at F1 Event
A 25-carat, 1,800-diamond Masterpiece Inspired by Formula 1 circuits Takes Centre Stage at the Glamour on the Grid ahead of the Australian Grand Prix
At the glamorous lead-up to the Australian Grand Prix, Hannah St John, partner of Liam Lawson, made a striking statement at the Glamour on the Grid event with a one-of-a-kind diamond necklace that seamlessly blended motorsport and haute jewellery.
Titled “La Velocit” (The Speed), the necklace was crafted by Australian atelier Martin Rogers Jewellery. The extraordinary piece features approximately 1,800 diamonds totalling 25 carats, intricately arranged to trace the outlines of iconic Formula 1 circuits from the global racing calendar.
A true testament to craftsmanship, the necklace required an estimated 250–300 hours of meticulous handwork, including weeks dedicated solely to precision diamond setting. Valued at around AUD $500,000 (approximately $350,000 USD), the piece stands as a bold fusion of speed, design, and luxury artistry.
Blurring the lines between engineering inspiration and fine jewellery, “La Velocità” captured attention across the paddock, proving that Formula 1’s influence extends far beyond the track.
Platinum Guild International India Announces The 2026 Edition Of ‘Platinum Season Of Love’
Sennes by Senco Gold & Diamonds Launches First Exclusive LGD Jewellery Store In Gaur City Mall, Noida
Gold Holds Steady On MCX As Middle East Tensions Cloud Market Direction
AKSHAY TRITIYA 2026 – Healthy Footfalls, Jewellery Sales Across India, Estimated 18–20 Tonnes Of Business Recorded
Precious Metals at the Crossroads – Geopolitics, Inflation, and Key Technical Levels AUGMONT BULLION REPORT
Motorsport Meets High Jewellery: Hannah St John Turns Heads with ‘La Velocita’ Diamond Necklace at F1 Event
-
National News1 day agoAKSHAY TRITIYA 2026 – Healthy Footfalls, Jewellery Sales Across India, Estimated 18–20 Tonnes Of Business Recorded
-
National News1 day agoAkshaya Tritiya 2026:Indian Consumers Balanced Record-High Prices With Age-Old Traditions
-
International News6 hours agoPrecious Metals at the Crossroads – Geopolitics, Inflation, and Key Technical Levels AUGMONT BULLION REPORT
-
DiamondBuzz1 day agoMotorsport Meets High Jewellery: Hannah St John Turns Heads with ‘La Velocita’ Diamond Necklace at F1 Event
JewelBuzz is Asia’s First Digital Jewellery Media & India’s No.1 B2B Jewellery Magazine, published by AM Media House. Since 2016, we’ve been the trusted source for jewellery news, market trends, trade insights, exhibitions, podcasts, and brand stories, connecting jewellers, retailers, and industry professionals worldwide.