Plumb Club Podcast Offers Jewelers Strategies for Managing Tariffs

By JCK News Desk | October 08, 2026

A new podcast from the Plumb Club examines how rapidly changing tariffs are affecting jewelry supply chains and offers practical steps retailers can take to protect their margins.

Hosted by Cheryl Kremkow, the episode features Sara Yood, president, CEO, and general counsel of the Jewelers Vigilance Committee, and Steven Lerche, president of the Plumb Club and Gold Star.

In the podcast, Yood explains that most finished jewelry, diamonds, watches, and gemstones are subject to import tariffs, while raw precious metals remain exempt. Because the rates and exemptions have changed repeatedly, Kremkow recommends that jewelers regularly consult the tariff tracker maintained by JVC, which lists rates for jewelry products by country.

The discussion highlights the importance of determining a product’s country of origin, which can change when goods undergo what trade policy considers a “substantial transformation.” A diamond mined in Botswana but cut and polished in India, for example, is treated as an Indian product for tariff purposes. Casting a ring can similarly change its country of origin, while setting a gemstone generally does not.

Maintaining complete import records is equally important. Yood advises jewelers to retain information about the tariffs they paid, payment dates, and the corresponding import numbers so they have the documentation needed to seek refunds if tariffs are subsequently overturned. She advises businesses to plan for the tariffs to remain in place while preserving the records needed to respond if the legal environment changes.

Lerche recommends asking suppliers how they are mitigating tariffs and choosing vendors whose practices will protect the retailer, the consumer, and the business. Participants urge jewelers to communicate early with suppliers, regularly recalculate replacement costs, and consider dynamic pricing rather than relying on fixed markups when acquisition costs are fluctuating.

The speakers also discuss inventory and merchandising strategies, including stocking core products ahead of announced rate increases, focusing purchases on proven sellers, and protecting entry-level price points through lighter construction, lower-karat gold, mixed metals, and other design adjustments.

Service businesses such as custom design, repairs, appraisals, and engraving can provide additional revenue when margins on imported finished jewelry are under pressure, the podcast participants say.

The Plumb Club is working with JVC on government advocacy and has formed a strategic partnership with the Jewelers of America political action committee. Lerche says one priority is adding diamonds, gemstones, and other precious stones to a list of materials that cannot be produced domestically and therefore may qualify for tariff exemptions.

The club represents manufacturers and brands across the jewelry, diamond, and watch sectors. Its monthly podcast series provides retailers with educational content and actionable business advice from industry leaders on topics affecting sales, operations, and profitability.

The JCK News Desk uses AI to help research and produce the first draft of articles. This story was then reviewed by staff writer David Blomquist.