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
GJEPC Auckland Visit Targets Growth In India-NZ Jewellery Trade
The Opportunity In New Zealand Is Significant Relative To The Current Level Of Jewellery Trade. India’s Gem and Jewellery Exports To New Zealand Rose 50.56% To US$25.46 Million In FY2025-26, From US$16.91 Million In FY2024-25.
The GJEPC trade delegation’s Auckland programme has highlighted the scope for expanding India’s gem and jewellery exports to New Zealand as the two countries move towards implementing their recently concluded Free Trade Agreement (FTA).
The Auckland visit was part of GJEPC’s Australia and New Zealand trade delegation, held from 20-26 August 2026, with the delegation focused on connecting Indian manufacturers and exporters with buyers and industry stakeholders across the two markets.
The opportunity in New Zealand is significant relative to the current level of jewellery trade. India’s gem and jewellery exports to New Zealand rose 50.56% to US$25.46 million in FY2025-26, from US$16.91 million in FY2024-25.
The recently concluded India-New Zealand FTA is expected to create further opportunities for Indian exporters. New Zealand has committed to duty-free access for Indian exports across 100% of its tariff lines once the agreement enters into force.
On 26th August, Vijay Mangukiya, Convener – International Events, GJEPC and leader of the delegation, met Dr. Madan Mohan Sethi, Consul General of India in Auckland. Mangukiya has said the delegation was aimed at bringing Indian manufacturers and exporters closer to buyers and industry stakeholders in both Australia and New Zealand, with the objective of identifying new business opportunities and developing long-term partnerships.
The delegation’s Auckland market visits covered a broad cross-section of the local jewellery sector, including Michael Hill, Wallace Bishop, Hardy Brothers, Prouds, and Partridge Jewellers. The delegation also observed international luxury and contemporary jewellery brands including Van Cleef & Arpels, Roberto Coin, Messika and FOPE, reflecting the competitive environment in which Indian exporters would be seeking to establish or expand relationships.
India’s exports of individual jewellery categories to New Zealand also recorded strong growth in FY2025-26. Gold jewellery exports rose 84% to US$17.47 million, while silver jewellery exports doubled to US$0.91 million. Lab-grown diamond exports rose 2% to US$0.63 million, and imitation jewellery increased 13.16% to US$0.43 million. Cut and polished diamond exports were US$5.76 million.
The figures underline the growing contribution of finished jewellery to India’s New Zealand business. With the FTA expected to improve market access and the Auckland market showing demand across gold, diamonds, coloured stones, pearls and branded jewellery, GJEPC’s delegation is seeking to convert this existing growth into deeper commercial relationships.
Halo Jewelers Puts Colour At The Heart Of Fine Jewellery With Ciara
Hon’ble Union Home Minister, Inaugurates HK Group & Dholakia Foundation’s Gujarat Gaurav Sarovar
Verlas Redefines Rakhi Gifting With Fine Jewelry That Lasts Beyond The Festival
-
National News2 days agoMMTC-PAMP Appoints Sidharth Malhotra As Brand Ambassador
-
International News2 days agoGJEPC Auckland Visit Targets Growth In India-NZ Jewellery Trade
-
BrandBuzz34 minutes agoHalo Jewelers Puts Colour At The Heart Of Fine Jewellery With Ciara
-
National News60 minutes agoHon’ble Union Home Minister, Inaugurates HK Group & Dholakia Foundation’s Gujarat Gaurav Sarovar
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.