The World Diamond Council (WDC), a U.S.-based organisation representing the international natural diamond value chain, is calling on the U.S. government to exempt natural diamonds from proposed tariffs.
The WDC said this week it supports the U.S. administrationโs commitment to fair and reciprocal trade and advocates for policies that strengthen American manufacturing and benefit U.S. businesses, workers, and consumers. In line with these goals, the council is urging the U.S. to include natural diamonds in Annex IIโa list of products exempt from the tariffs.
Minister of Minerals and Energy Bogolo Kenewendo told reporters this week that the Botswana government fully supports the WDCโs position, calling for a universal exemption of natural diamonds, whether rough or polished.
Although Annex II includes several other minerals, natural diamonds remain excluded. The WDC warned that this omission threatens the health of the American jewelry industry, a key contributor to the U.S. economy.
According to the WDC, the U.S. jewelry sector generates more than $117 billion in annual economic activity and supports more than 200,000 jobs. Retail sales total approximately $91.5 billion annually, while domestic jewelry manufacturing and exports contribute around $15 billion and $10.5 billion, respectively.
โNatural diamonds are not produced in the United States, yet they are vital to an industry that supports American livelihoods,โ the WDC said in a statement. โA tariff would function as a consumption tax, raising prices on engagement rings, anniversary gifts, and other jewelry purchased by American families.โ
The organization noted growing retailer concerns about inventory constraints, with uncertainty already translating into higher consumer prices. It argues that a targeted exemption would help maintain stable supply chains, protect manufacturing competitiveness, and shield U.S. consumers from additional costs.
The U.S. is the worldโs largest market for natural diamond jewelry. โWe support President Trumpโs drive for fair and reciprocal trade,โ said WDC President Feriel Zerouki. โThe current tariff review has highlighted the need for fair treatment across the board.โ
Zerouki said council members are unified in their call for a natural diamond exemption and are working with governments worldwide to ensure trade policies support jobs, competitiveness, and consumers.
โThe diamond industry is aligned, and our members are engaging directly with officials to support a positive resolution,โ she said.
Minister Kenewendo added that Botswana is increasing its global marketing efforts following the signing of a new diamond sales agreement with De Beers earlier this year.
โMarketing is significantly important because we have agreed that if we do not invest in category marketing and provenance, no one will come back to us,โ she said. โWe have to let the world know what diamonds do for Botswana and that our diamonds are responsibly mined and ethically sourced.โ
Kenewendo said a dedicated marketing committee has been established to highlight the origin and impact of Botswanaโs diamonds, noting that many consumers are influenced by such narratives.
