International News
Natural Diamonds Cut In Europe Will No Longer Face US Import Tariffs, Decision Is Expected To Benefit Antwerp
The Main Reason Was That The US Does Not Have A Domestic Diamond Mining Or Cutting Industry That Needs Protection From European imports.
Natural diamonds cut in Europe will no longer face US import tariffs after the US government removed the 10% duty that had been in place for the past six months.
The decision is expected to benefit Antwerp, Europe’s largest diamond cutting and trading hub. According to the Antwerp World Diamond Centre (AWDC), Belgium exported $2.1 billion worth of polished diamonds to the US in 2024.
The exemption was first introduced in September 2025 after discussions between the AWDC and the European Commission. The main reason was that the US does not have a domestic diamond mining or cutting industry that needs protection from European imports.
The reasons for granting the exemption remain unchanged- no diamonds are mined or cut in the US, so there is no local industry that requires tariff protection.
The earlier exemption ended in February 2026 after the US Supreme Court ruled that President Donald Trump’s reciprocal tariffs under the International Emergency Economic Powers Act (IEEPA) were unlawful. The US government then imposed a temporary 10% import surcharge under Section 122 of the Trade Act, which also applied to European polished diamonds.
After this surcharge expired on July 24, the US introduced new tariffs under Section 301 of the Trade Act. These tariffs target countries that do not have adequate measures to prevent imports linked to forced labor. However, natural diamonds cut in Europe have been exempted from these tariffs.
According to the US Trade Representative (USTR), the European Union is still strengthening its forced-labor regulations, which are expected to be fully implemented by December 2027.
International News
Global Bullion Markets Experience Downturn As US Fed Keeps Interest Rates Unchanged
Market Analysts Anticipate Continued Volatility In Precious Metals As Traders Digest The Fed’s Stance On Monetary Policy and Its Implications For Future Rate Trajectories
Global bullion markets experienced a downturn on Thursday as spot gold and silver prices each fell by nearly 1% following the U.S. Federal Reserve’s overnight decision to keep key interest rates unchanged. Domestic gold and silver prices in India are expected to reflect this global weakness throughout today’s trading session.
| Parameter | Details |
| Gold (MCX) Futures | ~₹1,43,600.00 – ₹1,43,724.00 per 10 grams |
| Silver (MCX) Futures | ~₹1,94,450.00 per kg |
| Key Contract Benchmark | December 2026 Gold Futures are hovering near ₹1,42,324 – ₹1,43,700 levels. |
| Spot Gold | Down ~1%, struggling around $4,044/oz. |
| Spot Silver | Down ~1%, trading below $53.50/oz. |
| U.S. Fed Policy Rate | Unchanged at 3.75% – 4.00%. |
In international markets, spot gold tumbled nearly 1% to trade near $4,044 per ounce, while spot silver dropped 1% to fall below $53.50 per ounce.
The market reaction follows the latest Federal Open Market Committee (FOMC) meeting, where policymakers voted to maintain the target range for the federal funds rate at 3.75% to 4.00% (3-3/4 to 4 percent).
In an official statement, the FOMC reaffirmed its commitment to supporting its dual mandate of maximum employment and price stability while continuing its policy of maintaining ample reserves within the banking system.
​Market analysts anticipate continued volatility in precious metals as traders digest the Fed’s stance on monetary policy and its implications for future rate trajectories.
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