Editor’s Note
This report details a significant tariff reduction on polished diamond imports from India to the U.S., following an agreement between former President Donald Trump and Prime Minister Narendra Modi. The industry’s assessment of this development is forthcoming.
Tariff Reduction Agreement
Following an agreement with Prime Minister Narendra Modi, former US President Donald Trump has slashed the tariff on polished diamond imports from India to 18%.
Industry Assessment
The diamond industry has stated that while the new rate represents a meaningful reduction, further easing of trade barriers is necessary to fully revive demand and stabilize exports.