Officials from two trade groups met with Peter Navarro, one of President Trump’s top trade advisers, at the White House Tuesday to discuss how tariffs might affect the diamond and jewelry industry.
“We made our case that diamonds are a natural material that aren’t available in the United States,” says David Bonaparte, president and CEO of Jewelers of America (JA), who attended the meeting accompanied by Ronnie VanderLinden, president of the International Diamond Manufacturers Association (IDMA).
“We agree with wanting to create jobs and manufacturing in the United States,” Bonaparte says. “But jewelers and the industry are operating on razor-thin margins as it is. We don’t want to have to close stores and lose jobs. It would have a real detrimental effect.”
Navarro and the other administration officials who attended seemed receptive to the industry’s concerns, according to Bonaparte.
“They said that they got a better picture of the issue,” he says. “We told them about the complexities of the supply chain. They don’t live the jewelry business like we do.”
JA’s ultimate goal is to get diamonds listed on Annex II, the roster of products exempt from duties, adds Bonaparte.
“We figured that we should focus on the most important product for jewelry, which is diamonds,” he says. “If we make a breakthrough there, then maybe we can talk about finished jewelry, watches, colored stones. If we are able to get that message through, it opens the door to further discussions.”
VanderLinden adds: “We felt really good about the meeting. We are confident that we will stay in touch.”
Imports from India—where an estimated 90% of diamond cutting and polishing is done—are currently subject to a 25% U.S. tariff, which will increase to 50% on Aug. 27.
JA encourages members to visit the legislative action center on its website, to make their views on tariffs and other issues known to their elected officials.
From left: David Bonaparte, Peter Navarro, Ronnie VanderLinden, and Tim Haake, head of Haake & Associates, JA’s government affairs firm. (photo courtesy of Jewelers of America)
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