The World Federation of Diamond Bourses (WFDB) has issued a statement in support of the World Diamond Council’s (WDC) appeal to the US government to grant a tariff exemption for natural diamond imports.
WFDB said that a number of diamond industry organizations, such as the Antwerp World Diamond Center (AWDC), the International Diamond Manufacturers Association (IDMA) and the Gem and Jewellery Export Promotion Council of India (GJEPC), also support the initiative.
“I heartily support the position put forth in the WDC statement. Tariffs on natural diamonds would harm the small, independent retailers who make up the bulk of the industry in the U.S. and would tax American consumers, largely young couples buying engagement rings as they begin their lives together,” said WFDB President Yoram Dvash.
“We join the industry in calling on the US Government to exempt natural diamonds and on governments around the world to support reciprocity throughout the diamond pipeline.”
On Monday, the WDC has published an appeal to the US government for a targeted exemption for natural diamonds from proposed tariffs, arguing that natural diamonds are not produced in the United States, but are vital to the health of the American jewellery industry and are an essential contributor to the national economy.
WDC has also said that tariffs may jeopardize the US jewellery industry which generates more than $117 billion in annual economic activity and supports over 200,000 jobs.
Theodor Lisovoy, Managing Editor, Rough&Polished
