NEWLY CREATED TARIFFS on fine jewelry and loose gemstone imports by the Trump administration are all the trade can think about now. Tariffs are being levied as a means of making international trade fairer for American companies who want to sell abroad, to increase U.S. revenues to pay down the deficit, and as an effort to bring home some manufacturing jobs.
But for the trade, tariffs increase costs of goods imported and ultimately, consumers will pay more for most jewels and gems.
On April 2, 2025 — Trump’s self-proclaimed Liberation Day — a 10% baseline tariff was announced on many imports including jewelry and gemstone imports, and it went into effect on April 5. Also on April 2, Trump unveiled reciprocal tariffs (based on what nations charged the U.S.), which were quickly paused, with nations instructed to contact the White House to negotiate new rates. On Aug. 7, 2025, the pause ended.
While Vietnam, Indonesia, the Philippines, the U.K. and Israel have negotiated new rates, most other countries have not. Now, they’re facing not just tariffs but high ones that could hurt business. China and India are particularly vulnerable as their rates are much higher than others, meaning that jewelry and gemstone businesses based there (and there are many) and their U.S. partners will suffer.
Additionally, the U.S. is ending the “de minimis” exemption — which currently allows imports valued at $800 or less to enter duty-free — effective Aug. 29, 2025. After that date, all imports, regardless of value or country of origin, will be subject to applicable duties.
To further clarity the tariff situation and offer insights, guidance, advice, and suggestions that could help American businesses navigate this new terrain, INSTORE reached out to industry associations, gemstone dealers, jewelry manufacturers and U.S. Customs. Here’s a summary of their feedback.
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What Are the Tariff Rates?
The Jewelers Vigilance Committee (JVC) has a public Tariff Tracker on its website, and your shipping partners (think Malca Amit) will also be able to detail the most current tariff rates. The following chart offers an overview of the tariff rates at press time, negotiated and non-negotiated. One caveat: Rates and deals with countries can change frequently, so check with your shipping company for the most current rate. Also, this is not a complete list of all countries; see the JVC’s Tariff Tracker for missing nations’ tariff rates.
