EU polished diamonds avoid U.S. tariffs
Antwerp World Diamond Centre (AWDC) announced its success in securing an exemption for polished natural diamonds from U.S. customs duties in Europe. The duty rate has returned to zero percent after six months of a 10% import tax. This exemption is the result of a trade agreement between the European Union and the United States, aimed at protecting the European diamond sector, especially since the U.S. does not mine or polish diamonds. This development has allowed for the removal of tariffs and an improvement in sector exports. Antwerp is a major hub for diamond polishing in Europe, with sector exports reaching €2.1 billion worth of polished diamonds in 2024, strengthening the city's economic position and boosting its exports to the U.S. market.
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