U.S. Tariffs Spark Crisis in Global Diamond Trade as Industry Warns of Severe Disruptions
Apr/15/2025
Sweeping U.S. tariffs—most notably a 10% base duty on diamonds—have sent shockwaves through the $82 billion diamond industry, with trade volumes collapsing and global supply chains faltering. At the heart of the crisis is Antwerp, once a bustling hub for gem trading, now operating at just one-seventh its normal capacity, according to Karen Rentmeesters of the Antwerp World Diamond Centre (AWDC), who likened the disruption to pandemic-era shutdowns. The U.S., despite being the world’s largest consumer of diamonds, imports all of its supply, relying heavily on complex international routes involving production in Botswana, trading in Dubai, and polishing in India. With the only domestic role being the certification process—largely handled by California -based GIA (Gemological Institute of America) — the new tariffs threaten not only trade flows but also the viability of U.S. certification, as GIA considers shifting services abroad. GIA COO Pritesh Patel confirmed efforts to expand international operations, citing customs delays. Meanwhile, Indian exporters, responsible for polishing over 90% of global diamonds, now face a proposed 27% import duty on goods entering the U.S., compounding fears of a trade breakdown. The following tag cloud shows the most frequent keywords used in U.S. trademark filings related to the diamond industry in 2024, offering insight into prevailing branding themes, service areas, and commercial positioning within the sector.
