Gems & jewellery bodies anticipate 'significant burden'

The Indian gems and jewellery industry expects US President Donald Trump's decision to impose a 27 per cent tariff on imports from the country will be a "significant burden" and complicate the task of sustaining annual exports worth $10 billion to the US market.

- SURAJEET DAS GUPTA

The US earlier imposed no duty on imported cut and polished diamonds and rough lab-grown diamonds, 7 per cent duty on plain gold jewellery, 5.50 per cent on studded gold jewellery, and 5.5 per cent duty on platinum jewellery. The highest duty, of up to 13.5 per cent, was on silver jewellery. Indian duties on US exports ranged from 5 per cent to 25 per cent (highest on imitation jewellery)