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US Jewellery Industry faces $117 Billion threat amid proposed diamond tariffs

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The World Diamond Council (WDC), representing the global natural diamond value chain, has raised concerns over proposed U.S. tariffs that could place the $117 billion American jewellery industry at significant risk. In a formal appeal, the WDC urged the U.S. Administration to exempt natural diamonds (HS Codes 7102.10 and 7102.31) from the ongoing tariff review and include them in Annex II, citing their critical role in the nation’s economic and manufacturing sectors.

Natural diamonds, though not produced in the U.S., are essential to the health of the domestic jewellery market — a sector supporting over 200,000 American jobs and generating over $91.5 billion in annual sales. The combined impact of jewellery manufacturing and exports adds another $25.5 billion to the economy each year.

The WDC warns that tariffs on natural diamonds would effectively act as a consumption tax, raising prices on popular items like engagement rings and anniversary jewellery, placing additional financial strain on American families. Retailers are already experiencing inventory concerns, with inflationary pressures beginning to impact consumer prices.

“A tariff would destabilize the supply chain, weaken U.S. manufacturing competitiveness, and increase costs for consumers,” said Feriel Zerouki, President of the World Diamond Council. “We support the U.S. Government’s goal of fair trade, but urge an exemption for natural diamonds to protect jobs, competitiveness, and consumer access.”

The United States is the world’s largest consumer of natural diamond jewellery. The WDC emphasized that continued access to these goods is vital to preserving the innovation, craftsmanship, and entrepreneurship that define the American jewellery industry.

WDC members are actively engaging with U.S. officials, calling for a collaborative resolution that supports fair trade without undermining one of America’s most valuable consumer markets.

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DiamondBuzz

Russia Tightens Rules On Synthetic Diamond Labelling

Industry’s Most Stringent Measures Aimed At Clearly Distinguishing Lab-Grown Stones From Natural Diamonds

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Russia has introduced new regulations governing the sale and marketing of jewellery containing synthetic diamonds, marking one of the industry’s most stringent measures aimed at clearly distinguishing lab-grown stones from natural diamonds. The rules are set to take effect on 1 September 2026.

The new provisions were adopted under Resolution No. 657 of 30 May 2026 by the Government of the Russian Federation and amend the country’s retail sales regulations for precious metals and gemstones.

Under the revised rules, jewellery containing synthetic stones may continue to reference the corresponding natural mineral, but labels and tags must prominently include the word “synthetic” or its approved abbreviation. However, the use of the word “diamond” and its derivatives in relation to synthetic materials will be prohibited. The regulations also ban the use of colour and quality descriptors typically associated with natural diamonds.

The resolution further prohibits retailers and marketers from using terms such as “precious”, “real”, “genuine”, “natural”, “mined”, “mineral” and “eco-friendly” when describing synthetic stones. In addition, the weight of synthetic stones may only be disclosed in grams rather than carats. The restrictions apply to all forms of consumer-facing information, including product labels and marketing materials.

The measures are intended to protect consumers from misleading sales practices and ensure greater transparency in the marketplace. Russia, the world’s largest producer of natural diamonds by volume, said the rules are designed to safeguard consumers and support fair competition between natural and synthetic diamond products.

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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.

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