DiamondBuzz
US Jewellery Industry faces $117 Billion threat amid proposed diamond tariffs
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.
DiamondBuzz
De Beers Group Science & Technology Showcases SynthDetect 2: The World’s Most Versatile Automated Diamond Screening Instrument
SynthDetect™ 2 Delivers Faster Screening, Greater Automation and Enhanced Reporting For Diamond Trade Participants.
SynthDetect™ 2 builds on the leading-edge technical capabilities of its forerunners, adding greater automation, more effective reporting and faster throughput.
Collaborative approach to development means the instrument integrates effectively with diamond companies’ operations.
De Beers Group’s Science & Technology division today revealed SynthDetect 2, the next generation desktop diamond screening instrument. The first SynthDetect instrument and its successor SynthDetect XL– released in 2017 and 2018 respectively – have been among the most successful instruments in De Beers Group’s suite of diamond verification instruments due to their outstanding technical screening functionality and ability to test multiple stones in set jewellery at once without the need for a probe.
With SynthDetect 2, De Beers Group Science & Technology has worked closely with a range of trade participants to innovate on how best to integrate the technology with customer operations. This process has resulted in the development of an instrument that makes the diamond screening process significantly easier, faster and more cost-effective for diamond manufacturers, laboratories, and retailers’ back-office operations.
SynthDetect 2’s increased screening speed, throughput and productivity mean that the time taken for a full tray scan has been reduced from around 30 minutes to under five minutes. The instrument can screen more types of diamonds and jewellery than previous versions, while increased automation reduces the need for operator input, helping to reduce costs in the screening process.
With the instrument also offering automatically generated reporting and software updates, SynthDetect 2 provides a comprehensive screening tool for trade participants.
Sarandos Gouvelis, Senior Vice President for Science & Technology at De Beers Group, said:
“We have worked closely with industry partners to ensure that SynthDetect 2 is not only tailored to meet diamond companies’ screening requirements, but also to meet their operational needs. Through this process of collaboration we are proud to introduce SynthDetect 2, providing the trade with an instrument that will integrate seamlessly into their operations, marrying outstanding technical performance with enhanced speed, cost and efficiency.”
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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.