Things were much calmer in the global trade when World Federation of Diamond Bourses (WFDB) president Yoram Dvash sat down for an interview with Rapaport News on March 11. Dealers had just returned from a positive Hong Kong show. The European Union had recently delayed its traceability rules for enforcing Russia sanctions until January 2026. The rough and polished markets were showing signs of recovery.
That changed, however, on April 2, when US President Donald Trump announced tariffs on almost all imports, including diamonds and jewelry. The topics Dvash discussed with this reporter — the Russia sanctions, category marketing, arbitration — took a back seat. The only thing anyone was talking about was how the new customs duties would affect the industry.
“The issue of Russian sanctions has not disappeared, but the tariffs issue naturally is the focus of attention now…
Trade members and influencers share their perspectives on the consumer trends, market challenges and collective goals that led to the formation of this first-of-its-kind initiative.
Why is the trade so divided? Industry leaders reveal what’s holding it back and what needs to happen next.
Jeweler expects annual earnings to reach a minimum of $12.8 million
Lab also rolling out new comments clarifying impact of fluorescence.
