International News
US eases tariffs on China, Thailand, Cambodia, Malaysia: jewellery and diamond trade set to benefit
The United States has announced a series of trade adjustments aimed at easing tariff pressures and boosting jewellery and diamond trade with key Asian partners.
President Donald Trump’s administration has secured an agreement with China to freeze or cut certain tariffs, trimming the average import duty on Chinese goods by 10 percentage points — from 57% to 47%. The move follows Beijing’s decision to suspend new export controls on rare earth elements vital to the technology sector.
In parallel, Washington and Bangkok have established a framework trade pact setting US tariffs on Thai goods at 19% while exploring potential exemptions. Both China and Thailand are major exporters of jewellery and diamonds.
The US has also reaffirmed reciprocal 19% tariffs with Cambodia and Malaysia under recently signed agreements, which include provisions for select products listed under Annex III — such as diamonds and jewellery — to qualify for zero-duty treatment.
Separately, the American Watch Association (AWA) and the Jewelers Vigilance Committee (JVC) filed a brief with the US Supreme Court on October 24 urging it to declare the reciprocal tariffs unlawful. The levies “impose extraordinary costs on American businesses, workers, and consumers without generating any meaningful offsetting benefit,” they argued.
International News
Significant Upside Trajectory In The Metals Sector
Precious Metals Surge on Geopolitical Optimism as Gold and Silver Rally, While Crude Oil Faces Downward Pressure Amid Ongoing US–Iran Developments
Gold rates and silver rates in India will be driven by global trends, as the Indian market is closed. Trading in commodities, including gold and silver, will be closed for half a day on April 14 at MCX.
We are seeing a significant upside trajectory in the metals sector, driven by recent geopolitical synergies:
- Gold Asset Class: Spot prices have achieved a value-add recovery, scaling past the $4,760/oz threshold.
- Silver Asset Class: Currently experiencing a high-growth phase, surging approximately 2% to reach a target density near $77/oz.
- Market Bandwidth: While the MCX interface is currently undergoing a scheduled half-day service window on April 14,
- Energy Sector Headwinds
Conversely, the energy vertical is facing downward scalability issues:
- Crude Oil Index: Both US WTI and Brent Crude are failing to gain leverage, currently underperforming by 2% and hovering around the $98/bbl mark.
Geopolitical Synergy & Risk Mitigation
The recent bullish momentum in precious metals is a direct byproduct of strategic bilateral engagement between the US and Iran. Key stakeholders are currently deep-diving into negotiations to extend the current truce framework.
- US Perspective: President Trump has acknowledged a proactive outreach from Tehran following the implementation of a naval blockade.
- Iranian Alignment: President Pezeshkian has signaled readiness to move the needle on peace discussions, provided all deliverables remain within the compliance framework of international regulations.
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