💼📉 Trump’s New Tariffs Are Shaking Up the Jewelry Industry—Here’s What You Need to Know
President Trump just threw another wrench into global trade: a 25% tariff on imports from Canada and Mexico, plus a 10% duty on Chinese goods. And yes—the jewelry industry is feeling the pressure. 😬
🧨 What Happened?
In his latest address, Trump said:
“Tariffs are about making America rich again… There will be a little disturbance, but we’re okay with that.”
But the stock market dropped for two straight days, and business leaders across the jewelry world are sounding the alarm.
💬 What the Industry Is Saying
David Bonaparte, CEO of Jewelers of America:
“We’re concerned. Some manufacturers are already reporting 10% cost increases. If tariffs hit India next, the impact will be massive.”
David Cochran, MJSA CEO:
“Fashion jewelry made in China will take an immediate hit.
But long-term, more companies may move production back to the U.S.—especially after COVID exposed supply chain risks.”
Dave Meleski, CEO of Richline:
“China-based manufacturing is being resourced to other countries.
My bigger concern? Gold market volatility. Price hikes are already slowing down consumer purchases.” 📉
An unnamed manufacturer added:
“It’s messy. Importers will have to decide how much of the added 10% to pass on to buyers. Either way, jewelry is about to get more expensive.”
🔄 Global Retaliation Begins
Canada immediately imposed a 25% counter-tariff—and yes, it covers U.S. jewelry exports. Categories 7113.11 through 7117.90 are now affected.
China and Mexico have also announced retaliation.
🇨🇦 Trudeau called the move “very dumb.”
🇨🇳 The Chinese embassy posted:
“If war is what the U.S. wants… we’re ready to fight till the end.”
📉 What It Means for Jewelers
✈️ Import costs are rising
- 💰 Exporters may face retaliation abroad
- 💎 Consumers could see price hikes—especially on fashion pieces
- 📊 Gold price swings = more instability
- 📣 What You Can Do
Sara Yood, CEO of the Jewelers Vigilance Committee, urges business leaders to:
“Talk to your congressional reps. Let them know what this means for your bottom line.”
TL;DR:
Trump’s tariffs = 10–25% hit to key jewelry trade routes
- Prices, margins, and supply chains all face pressure
- More disruption may be coming if India is next
- 💡 It’s time to rethink sourcing, pricing, and political engagement
- This trade war isn’t just political—it’s personal for jewelers across the globe.