Tariffs impacting sales and sentiment. Prospect of US-India trade deal offering some optimism. 1 ct. RAPI +0.7% in April, with prices rising after tariff announcement and then stabilizing by end of month. Demand muted at ongoing De Beers sight, with sightholders likely to refuse rough as miner keeps prices high. Alrosa 1Q revenue -42% YOY to $709M, profit -29% to $177M. US retail steady ahead of Mother’s Day. Trade preparing for Las Vegas shows, with concerns about overseas attendance. Indian melee demand softening as tariffs affect jewelry production. Solid market for 5 ct. and larger diamonds as GemGenève show begins. Brilliant Earth 1Q sales -3.5% YOY to $94M, loss of $3.3M vs. profit of $1.1M last year.

Customers likely to refuse goods, sources say.

Newly expanded show highlights Ukrainian and African designers.

This year’s Rapaport Breakfast will provide an unprecedented opportunity to learn how you can develop and grow your natural-diamond business. After a strategic review of today’s market, Martin Rapaport and De Beers Group CEO Al Cook will hold a 40-minute discussion about the future of natural diamonds, including the best ways manufacturers, dealers and jewelers can take advantage of new marketing opportunities for the segment.