European polished diamond exempted from tariffs
The Antwerp World Diamond Organization announced its success in securing an exemption for polished natural diamonds from the US customs duties in Europe. The tariff rate has returned to zero after being set at 10% for six months. This decision is based on the fact that the United States does not play a role in diamond mining or polishing, highlighting Antwerp's importance as a major center for the diamond industry in Europe, with exports amounting to 2.1 billion euros in 2024.
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