Gem and jewellery industry urges Govt. to resolve crisis from Trump's tariff move

THE gem and jewellery industry has urged the Government to resolve the crisis arising from the proposed high reciprocal tariff by US President Donald Trump via dialogue.

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"The proposed imposition of a reciprocal tariff by the US stands to significantly disrupt Sri Lanka’s gem and jewellery sector—one of the most historically significant and economically vital industries in the country. We are seriously concerned about the impact," industry sources said.

Currently, approximately 10% of gemstones entering the US originate from Sri Lanka, whether directly exported or re-exported through intermediary coun-tries such as Thailand, Hong Kong, Dubai, and Switzerland. The longstanding trade ties between Sri Lanka and the US in this sector have fostered mutual economic benefits, promoting entrepreneurship, employment, and cross-cultural appreciation of craftsmanship and heritage.