The August issue of the Rapaport Research Report outlines the trade’s options, from expediting exports to seeking out low-duty routes.
The diamond and jewelry trade is seeking solutions to US tariffs — but planning is hard given the ever-changing situation, according to the latest Rapaport Research Report.
Workarounds include shifting parts of the production process to countries with favorable rates, moving inventory to America before duties escalate, and seeking out new consumer markets.
More fundamental longer-term options — such as relocating factories permanently — involve heavy investments and are unlikely for now. Many in the industry expect US President Donald Trump to adjust the tariffs in some way, says the report, which is based on interviews with industry members.
The August issue addresses six ways the industry has sought to combat the difficulties or is considering doing so in the future, drawing on RapNet data and US government trade statistics. It goes on to analyze the challenges these plans pose.
The Rapaport Research Report also includes the usual section providing exclusive RapNet data for 0.30-, 0.50, 1- and 3-carat stones, including average prices, discounts, inventory by country, and search volume. In addition, it presents the volume of goods moving onto and off the RapNet platform, and the average time it takes them to do so.