International News
GIA Suspends Acceptance of Overseas Submissions Requiring US Shipment
The Gemological Institute of America (GIA) has temporarily suspended the acceptance of goods at its international laboratories that require shipping to the US for services. This decision comes in response to new tariffs introduced by President Donald Trump’s administration.
In a recent communication to clients, GIA advised customers outside the US to refrain from sending items directly to its American labs for grading or other services. The institute explained that a baseline 10% tariff now applies to all goods imported into the US, with additional duties imposed on items from countries such as India, South Africa, and Thailand starting April 9. These tariffs affect gems sent for laboratory services, even if they are not intended for sale.
“There is a baseline 10% tariff on goods being imported into the US,” the GIA explained. “Additional tariffs for products from specific countries, including India, South Africa, Thailand and others, will begin on April 9. These tariffs will apply to gems being shipped to a GIA laboratory in the US, even if only for laboratory services and not for sale.”
The US recently implemented steep “reciprocal” tariffs, including a 27% import duty on Indian goods and 20% on those from the EU. While a Temporary Importation Under Bond (TIB) provision exists to exempt goods not for sale, industry experts have cast doubt on its applicability, asserting there are no valid exemptions for imported goods.
GIA acknowledged the potential confusion caused by these regulatory changes and urged clients to ensure compliance with US import laws. The organization is assessing the situation and considering operational adjustments to maintain service continuity at its international labs. Meanwhile, clients are responsible for any tariff charges incurred when shipping to GIA’s US locations, based on the country where the diamond was substantially transformed.
International News
U.S. specialty jewellery retailers recorded a 5.7% y-o-y revenue increase in Sept 2026:Tenoris
The growth continues to be driven primarily by high-end purchases rather than sales volume. Average consumer spend per item jumped 11% in September, offsetting an 11% drop in sales volume for lower-priced merchandise.
U.S. specialty jewelry retailers recorded a 5.7% year-over-year revenue increase in September 2026, extending nearly two years of continuous monthly growth despite broader economic headwinds, according to new data from industry analytics firm Tenoris. Year-to-date jewelry revenues are now up 8.5%.
The growth continues to be driven primarily by high-end purchases rather than sales volume. Average consumer spend per item jumped 11% in September, offsetting an 11% drop in sales volume for lower-priced merchandise.
Key insights from the September report include:
- Diamond Market Dynamics: Sales of finished diamond jewelry dipped slightly by 0.6%, though average spending per stone rose 11%.
- Lab-Grown Segment: Demand for lab-grown diamond jewelry surged nearly 26% year-over-year. However, revenue for loose lab-grown diamonds fell for a fifth straight month due to declining prices.
- Outperforming Broader Luxury: While overall U.S. luxury spending fell 6% in September—according to recent Citi credit card data—jewelry sales remained comparatively resilient, driven by affluent buyers.
When overall revenue increases even as the number of individual items sold drops, it creates a optical illusion of growth. On paper, top-line financial performance looks strong, but underneath, the business is relying on fewer transactions at much higher prices.Heading into the high-volume fourth quarter—driven by holiday shopping—this dynamic presents specific operational challenges and strategic risks for jewelry retailers.
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