International News
US court rules Trump’s recently imposed tariffs are illegal
A United States court has once again ruled against most of President Donald Trump’s recently imposed tariffs. This is the second such decision in four months.
The US Court of Appeals for the Federal Circuit, in a 7-4 ruling, declared that the law Trump used—the International Emergency Economic Powers Act (IEEPA)—does not give the president the authority to impose tariffs on imports. Instead, the court stated that this power lies only with Congress.
The judges explained that the Constitution gives Congress the exclusive right to impose taxes and tariffs. If Congress chooses to share that power, it must do so clearly. According to the court, allowing the president to levy tariffs without Congress would break from long-standing American traditions.
The ruling will take effect on October 14, unless Trump appeals to the Supreme Court, which he has already promised to do. In response, Trump wrote on his social media platform, Truth Social, that the court’s decision was wrong and politically motivated. He warned that removing tariffs would be disastrous for the United States.
Since April, Trump has imposed tariffs ranging from 10% to 50% on many countries, including India, the world’s largest diamond manufacturer. These tariffs have disrupted global trade, and industry groups are lobbying the administration to exempt diamonds from the duties.
The National Retail Federation (NRF) also reacted to the court’s ruling. The group said that the ongoing conflict between the courts, Congress, and the administration is hurting retailers. Tariffs, they argued, increase costs throughout the supply chain and lead to higher prices for American consumers. The NRF expressed hope that the Supreme Court will resolve the issue quickly to bring stability to businesses and the economy.
International News
AGTA appeals US Government to Scrap 10% Import Tariff on Gemstones
Trade body seeks exemption for coloured gemstones under new temporary tariff regime, with potential implications for diamonds.
The American Gem Trade Association (AGTA) has formally appealed to the US government to remove the newly imposed 10% global import tariff on gemstones, and potentially diamonds, warning of its impact on the trade.
The tariff was announced on February 20 after the US Supreme Court struck down President Donald Trump’s reciprocal tariffs issued under the International Emergency Economic Powers Act (IEEPA). In response, the administration introduced a temporary 10% import surcharge under Section 122 of the Trade Act of 1974. The measure will remain in effect for 150 days unless Congress votes to extend it, though further tariff mechanisms have not been ruled out.
AGTA has submitted a formal request to the Office of the United States Trade Representative (USTR), urging that precious and semiprecious coloured gemstones be added to the exception list under Annex I or Annex II. The association argued that these stones are not mined domestically in the US and therefore should qualify for exemption.
Previously, AGTA’s lobbying efforts contributed to diamonds and gemstones being included in Annex III — a list of products eligible for potential exemption from duties for “aligned” countries. This had placed Indian diamonds and gemstones on track for relief following a prospective US-India trade agreement. However, it remains unclear whether Annex III provisions apply under the new tariff framework that recently took effect.
If the across-the-board exemption request is denied, AGTA has asked the USTR to confirm whether Annex III remains a viable pathway for country-specific tariff relief on coloured gemstones.
While the current petition focuses on coloured gemstones, AGTA noted that trade experts believe any exemption granted in this category could effectively extend to diamonds, as seen in past trade agreements such as the US–European Union deal.
“We will continue to work tirelessly toward eliminating tariffs on gemstone imports into the US. We remain fully committed to this effort — giving up is not an option,” said AGTA President Bruce Bridges and CEO John Ford.
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