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
Final Sale Of The Season: High Jewelry Auction In New York
Culminates A Global De Beers X Sotheby’s Collaboration Series, Following Hong Kong and Geneva
Sotheby’s and De Beers conclude their 2026 international auction collaboration in New York, following acclaimed presentations and strong results in Hong Kong and Geneva. The final sale presents a tightly curated group of exceptional natural diamonds, reflecting a year defined by rarity, craftsmanship and provenance.
The New York auction marks the culmination of a cross-continental journey, with momentum building at each stage as collectors responded confidently to these exceptional natural diamonds. Here, in New York, diamonds intersect with modern identity, creativity and personal storytelling. Buyers will have the opportunity to acquire two pear-shaped, D-color diamond rings, alongside a magnificent 11.33-carat, old-mine brilliant-cut D-color, Type IIa diamond.



Diamonds are not simply precious objects, but carriers of cultural meaning. Formed billions of years ago, they embody geological history while accruing layers of human narrative—as symbols of love, empowerment and identity. Across each stop from Asia to Europe to the United States, the auctions have highlighted how diamonds continue to evolve as cultural artefacts, shaped by craftsmanship, heritage and contemporary self-expression.
In Hong Kong, diamonds are deeply rooted in traditions of trade, symbolism and philosophy. The sale featured a 3.03-carat pear-shaped diamond ring and a pair of brilliant-cut diamond earrings totaling 4.01 carats. The highlight was the extraordinary De Beers Jwaneng 28.8—a 28.88-carat brilliant-cut, D-color, flawless, Type IIa diamond.
In Geneva, the conversation shifted to connoisseurship and the culture of collecting. Notable stones included a 1.10-carat light pink oval-cut diamond, a 1.06-carat very light pink diamond, and a perfectly matched pair of brilliant-round diamonds, each weighing 18.38 carats—one D-color, flawless, and the other internally flawless.
This evolving cultural lens is mirrored in shifting patterns of ownership. Increasingly, collectors are acquiring diamonds not only as adornment or investment, but as expressions of individuality. Nearly half of global diamond purchases are now made by women for themselves, signalling a broader redefinition of value—rooted in independence, self-purchase and personal significance.
To further extend the impact of the auctions, Peace Parks will receive part of the proceeds, highlighting how natural diamonds can help contribute meaningfully to the landscapes and communities from which they originate.
As the season closes, diamonds continue to bridge deep history and contemporary culture, reaffirming their place as natural masterpieces and enduring symbols.
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