Natural polished diamonds of European origin, including those polished in Antwerp, will now be exempt from US import tariffs under a new executive order issued by the United States.
The decision follows negotiations led by the Antwerp World Diamond Centre (AWDC) and applies retroactively from 1 September. It removes the standard 15% duty that was previously applied to these goods, placing diamonds alongside other industrial exports such as metals, pharmaceuticals and chemicals on the US exemption list.
The exemption is part of a wider trade arrangement between the European Commission and the US government. The relevant goods are included in Annex II of the executive order, which outlines eligible products for tariff waivers once a bilateral agreement is in place.
Impact on Antwerp’s Diamond Trade
The United States remains a key export market for Antwerp, with polished diamond shipments from Belgium to the US valued at approximately USD 2.1 billion annually. According to AWDC CEO Karen Rentmeesters, the exemption will apply to goods of European origin and affect roughly half of all polished diamond exports from Antwerp to the US.
“AWDC has strongly prioritised this file, because the agreement is of vital importance and strengthens our competitiveness as both a trading and polishing hub,” said Rentmeesters.
The AWDC stated that the removal of the tariff may have a positive impact on the polishing sector in Antwerp and help retain more processing within the EU.
Precedent for Global Negotiations
While the exemption currently applies only to diamonds of European origin, the AWDC believes the decision sets a precedent that may allow other diamond-producing and polishing countries to pursue similar arrangements. Rentmeesters noted the importance of a global move toward tariff-free trade for the diamond industry, particularly for Belgian diamantaires who regularly trade polished goods from markets such as India.
“By setting this precedent, we have opened the door for other diamond-producing and polishing countries to negotiate similar arrangements in the near future,” she said.
Policy Context and Industry Support
The AWDC credited cooperation with the Belgian government and European Commission for securing the agreement, arguing that the 15% tariff offered no protective benefit to the US domestic market. The US has no significant domestic diamond mining or polishing operations and is reliant on imports to meet demand in its jewellery sector.
“The efforts of AWDC, in close cooperation with the Belgian government and European policymakers, have resulted in natural polished diamonds being excluded from this trade tariff,” said Rentmeesters. “We are extremely grateful to our partners and view this decision as a clear signal of the strategic importance our governments attach to Belgium’s diamond industry.”
Industry Implications
The removal of the 15% tariff for EU-polished diamonds may reduce costs for US-based buyers and affect sourcing decisions involving Antwerp. It may also lead to further international discussions on tariff reductions for polished diamonds.
