The WDC, the US-based umbrella body representing the natural diamond value chain, estimates that thousands of jobs could be lost across the industry from manufacturing to independent jewellers.
On April 2, a day he called Liberation Day, President Donald Trump announced a minimum 10% tariff on all US imports as well as "reciprocal tariffs" across the globe to correct what he said were trade imbalances disadvantaging the US. Countries such as Botswana were due to be slapped with 37% tariffs on all exports to the US, whilst other key diamond pipeline players such as India, the European Union, Israel, and China would all be similarly affected.
