US tariffs impact, Aug. 27 -- End customers in the United States will end up paying higher for diamonds once the stocks run out, Steven Grauer, chairman and security director for the Diamond District Partnership in New York City, told the NY Times.

The report, noted that for years India has been amongst the biggest diamond suppliers to the US - while imports on the precious gem were 0 per cent. Since US President Donald Trump announced the first 25 per cent tariff strike, import of Indian diamonds into the US has already fallen 90 per cent from $579 million in January 2025, to $58 million in June 2025. Now, with the tariffs doubling to 50 per cent from August 27, the situation seems dire.

For now, the prices for US customer will likely ...