Jewelry store China

REPORT: CHINA THREATENS TARIFFS ON US DIAMONDS AND JEWELRY

Is the escalating “tariff battle” between the US and China about to hit the American gem and jewelry industry? According to a report on the South China Morning Post (SCMP), quoted by Rough & Polished, Beijing is threatening to impose duties of 25% on US imports of luxury products, including gems, jewelry and watches.

 

According to the report, “Chinese duties will affect luxury products including watches and jewellery, and the gemstones used to make them, such as diamonds, rubies, crystals and pearls”. Additionally, China is also threatening to impose 20% tariff on the imports of gold accessories.

 

Recently, US President Donald Trump announced that he intends to impose further tariffs on another $200 billion of Chinese products.

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