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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

ISGJ Jewellery College & Lexus SoftMac Create 10.07-ct Brown Diamond Sculpture Of Gujarat Deputy CM

The Custom-Crafted Diamond Was Conceptualized In Recognition Of Sanghavi’s Contribution To The Development Of Gujarat and His Support For The Diamond Industry.

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In a unique tribute to Gujarat Deputy Chief Minister Harsh Sanghavi, ISGJ Jewellery College and diamond technology company Lexus SoftMac have jointly created a 10.07-carat premium brown diamond sculpture replicating his side-profile. The custom-manufactured diamond was conceptualized in recognition of Sanghavi’s contribution to the development of Gujarat, and in particular, his support for the diamond industry.

The project brought together advanced design technology, precision planning and specialized manufacturing expertise. While the execution of the diamond sculpture was carried out by Lexus SoftMac.

Developed over a period of nearly four months, the project sought to transform a diamond into a recognizable facial replica while preserving diamond yield, visual aesthetics and optical performance. The finished piece showcases a detailed side-profile likeness of Harsh Sanghavi, with the natural brown color of the diamond enhancing the depth and definition of its sculpted facial features.

Kalpesh Desai, CEO of ISGJ Jewellery College, said:

“The project demonstrated how design innovation, technology and craftsmanship can converge to create entirely new forms of diamond artistry. Creating a facial replica in diamond is an exceptionally complex process that requires extensive planning, digital modelling and artistic interpretation. Our team worked on source-image mapping, profile analysis and photorealistic simulations to develop a design that would accurately capture Harsh Sanghavi’s profile while remaining true to the characteristics of the diamond.” 

“The objective was not only to create a recognizable likeness, but also to demonstrate the capabilities of the Indian Jewellery and diamond industry in pushing the boundaries of innovation. This project reflects how modern technology can transform a concept and a photograph into a unique diamond artwork.”  he added.

Utpal Mistry, Founder & Director of Lexus SoftMac, said:

“I was working on a diamond sculpture inspired by the with Lord Krishna’s face, and it inspired the idea of creating a similar tribute for Harsh Sanghavi, whom we regard as the diamond of the state because of his contribution to Gujarat and his support for the diamond industry.”

“Converting a design concept and 3D model into a finished diamond portrait requires extremely high levels of precision in planning and cutting. It is a highly complex process involving advanced technology and meticulous execution. The final result exceeded our expectations and bears a remarkable resemblance to Harsh Sanghavi. We were delighted by his response when we presented this unique creation to him.”  he added.

The project demonstrates the diamond industry’s ability to transform concepts, photographs and digital planning models into highly customized diamond sculptures suitable for presentation, exhibition and collection.

The creators described the piece as a symbol of innovation, leadership and the limitless possibilities of diamond artistry, while also showcasing Surat’s excellence in diamond manufacturing.

The 10.07-carat premium brown diamond sculpture is among the rare examples of a custom-crafted facial replica created entirely in diamond, reflecting the fusion of portrait artistry, advanced technology and precision diamond manufacturing.

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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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