Diamonds, Pearls, Gemstones Could Be Exempt From Tariffs

By Rob Bates | September 08, 2025

Unset diamonds, gemstones, and natural pearls may be exempt from Trump administration tariffs, provided they are imported from countries that have signed trade deals with the United States, according to a new executive order issued Sept. 5.

The products, previously subject to duties, are listed in a new annex, called “Potential Tariff Adjustments for Aligned Partners,” that accompanied the order. The annex lists natural products that are either not found or available only in limited quantities in the United States, such as coffee and mangoes.

“I may be willing to provide a zero percent reciprocal tariff rate to [products listed in] the Annex,” Trump said in the order.

For the covered products to be allowed in duty-free, the exporting country must have a final agreement with the United States. At press time, India—currently subject to 50% tariffs—does not have a new trade agreement with the United States, nor do any of the major diamond-producing nations in Africa. However, Japan, a prominent pearl producer, may have one.

The possible tariff exemptions don’t apply to cultured pearls (only natural pearls), nor do they apply to finished jewelry.

“Importers of diamond or gemstone jewelry will have to pay tariffs on the whole item,” Sara Yood, president and CEO of the Jewelers Vigilance Committee, tells JCK. “This could mean it is more advantageous to import components rather than finished goods, which would theoretically mean a benefit towards domestic manufacturing, one of the administration’s stated goals. You would not be able to subtract the diamond cost from the tariff calculation.”

The order also removes current tariffs for raw gold, platinum, and gold bars. This removal is effective immediately and does not depend on the exporting country signing a trade deal with the United States.

For more information, check the JVC’s tariff tracker.

(Photo: Getty Images)