U.S. diamonds | Mines to Market

The Antwerp World Diamond Centre (AWDC), the industry organization representing all Belgian diamond companies, has expressed relief and satisfaction following the European Council’s decision not to impose import tariffs on polished diamonds originating from the United States, as part of its package of countermeasures in response to the U.S. tariffs imposed by President Trump. European import tariffs could have caused significant harm to Belgium’s diamond industry, without meaningfully impacting the U.S. in return. “We are extremely pleased and grateful that our efforts over the past weeks have led to the European Council’s decision not to impose tariffs on U.S. diamonds,” said Karen Rentmeesters, CEO of AWDC. With an annual trading value of $3.9 billion in polished diamonds representing around 16% of Belgium’s total diamond trade, the US is a key trading partner for the Belgian diamond industry. “It is typical in our industry for diamonds to be shipped back and forth multiple times between Belgium and the U.S. — for example, to obtain certification from one of the major grading labs based there,” Rentmeesters explains. “Without this decision, the same diamond could have been subject to tariffs not once, but twice: upon entry into the U.S., and again upon return to Europe.” In addition, AWDC questioned the effectiveness of reciprocal import tariffs as a way of exerting pressure on the U.S. “From both a political and economic standpoint, the impact on the U.S. would have been negligible, whereas the impact on our sector here would have been significant,” Rentmeesters explained. “Import tariffs are based on a product’s origin. For polished diamonds, this is the country where the stone was cut — which is rarely the U.S. As a result, any EU import tariff on U.S. diamonds would affect only a small portion of actual trade. Yet all diamond shipments would require stricter checks to ensure they weren’t cut in the U.S., leading to complex administrative burdens and serious delays — something our sector can ill afford.” Rentmeesters added that she hopes a negotiated solution to the escalating trade conflict can ultimately be reached. “This decision demonstrates that the Flemish and Belgian governments, as well as the EU, recognize and actively support both the strategic importance of the diamond sector in Belgium and the principle of free trade in diamonds. We deeply value this thoughtful and balanced European trade policy — and strongly encourage its continuation.”

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