Polished diamonds from Europe, including those processed in Antwerp, are now exempt from US import tariffs, thanks to a new EU-US trade deal that boosts the diamond industry’s competitiveness.
ANTWERP: The European diamond industry has scored a significant trade victory, as polished diamonds from Europe, particularly from Antwerp, have been granted a zero percent import tariff under a new agreement between the European Commission and the United States. The move is expected to boost the competitiveness of the Antwerp diamond sector in the lucrative US market.
The Antwerp World Diamond Centre (AWDC), the official body representing Antwerp’s diamond trade, announced the development following “intensive negotiations.” The exemption forms part of a broader US trade decree, retroactive to 1st September, which waives import tariffs on various industrial exports including metals, chemicals and pharmaceuticals — now also including natural polished diamonds.
“In concrete terms, this means that diamonds of European origin, for example, polished in Antwerp, will likely not be subject to the standard tariff of 15 percent, but can be accepted at zero,” the AWDC confirmed in its statement. The decision will significantly benefit diamond-cutting operations in Antwerp and is anticipated to inspire similar arrangements for other major diamond-processing countries.
Karen Rentmeesters, CEO of the AWDC, highlighted the scale of the breakthrough. “With a total annual export of 2.1 billion US$ from Antwerp to the US market, the US is a very important trading partner for Antwerp,” she said. The AWDC has pushed hard for this change, viewing it as essential for maintaining global competitiveness.
Rentmeesters also acknowledged the strong backing from the Belgian government and the European Commission, who argued that the existing 15 percent tariff would harm consumers more than benefit any domestic industry in the US. She pointed out that the US has no operational diamond mines and limited local diamond-cutting capacity, meaning the tariff served little protective function.
Industry experts suggest this tariff exemption could revitalise Antwerp’s cutting industry and improve global supply chain dynamics for diamonds destined for the US jewellery market. The move is also seen as a model for trade negotiations in other high-value sectors.
