Trump’s latest move in global trade might just shake up the diamond world. In a Monday executive order, the former U.S. president extended the tariff implementation deadline to August 1, warning that no further delays will be granted.
He confirmed the update on Truth Social, emphasizing:
“All money will be due and payable starting August 1, 2025 — no extensions.”
📈 That hits especially hard for South Africa and Thailand—two key exporters of diamonds and gemstones:
- 🇿🇦 South Africa’s tariffs jump from 10% to 30%
- 🇹🇭 Thailand’s gemstone taxes surge from 10% to 36%
South Africa is home to De Beers' Venetia mine, plus Cullinan and Finsch. Thailand dominates in gemstone production and trade. Higher import costs could pressure U.S. retailers and raise prices for consumers, especially on platinum, sapphires, and loose diamonds.
💬 While Trump insists there’ll be no changes, previous tariff decisions were reversed or delayed in court. And with legal battles still ongoing, nothing’s guaranteed—except uncertainty for the gem trade.