EditorsApr 15, 2025
Tariffs: What We Know Right Now Policies & IssuesApr 10, 2025
Trump Presses Pause on Higher Tariffs for 90 Days
An across-the-board tariff of 10 percent remains in place for all U.S. trading partners, except China.
On Wednesday, President Donald Trump announced a 90-day pause on higher tariffs for all U.S. trading partners, except for China. The tax on goods entering the United States from China now stands at 125 percent.
Washington, D.C.—Hours after they went into effect Wednesday, President Donald Trump announced he was pausing higher reciprocal tariffs on almost all U.S. trading partners for 90 days.
At 1:18 p.m. on Wednesday, Trump wrote on Truth Social, the social media platform his media company launched in 2022, “Based on the fact that more than 75 countries have called representatives of the United States, including the departments of commerce, treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to trade … and that these countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90-day PAUSE, and a substantially lowered reciprocal tariff during this period, of 10 percent, also effective immediately.”
The lone exception was China, which Trump wrote has shown a “lack of respect” to the world’s markets.
He has raised the tax on Chinese goods imported into the United States to 125 percent from the prior rate of 104 percent that went into effect at 12:01 Eastern on Wednesday.
Related stories will be right here …
At 1:18 p.m. on Wednesday, Trump wrote on Truth Social, the social media platform his media company launched in 2022, “Based on the fact that more than 75 countries have called representatives of the United States, including the departments of commerce, treasury, and the USTR, to negotiate a solution to the subjects being discussed relative to trade … and that these countries have not, at my strong suggestion, retaliated in any way, shape, or form against the United States, I have authorized a 90-day PAUSE, and a substantially lowered reciprocal tariff during this period, of 10 percent, also effective immediately.”
The lone exception was China, which Trump wrote has shown a “lack of respect” to the world’s markets.
He has raised the tax on Chinese goods imported into the United States to 125 percent from the prior rate of 104 percent that went into effect at 12:01 Eastern on Wednesday.
Trump’s initial announcement of reciprocal tariffs that included 27 percent on goods from India, 37 percent on goods from Thailand, 32 percent on goods from Switzerland, and 46 percent on goods from Vietnam set off a panic in the jewelry industry.
Many had questions about how the tariffs would work within the industry’s complex supply chain, while others worried about how to price goods and if higher prices across the board would dampen consumer spending.
While the lowering of tariffs does take some pressure off the industry, the 10 percent still is going to have an impact, particularly on smaller businesses.
As Jewelers of America noted in a Q&A, the 10 percent across-the-board tariffs come in addition to existing duties that companies pay.
Meanwhile, many companies that do business in China find themselves at a standstill.
In an interview on NBC Nightly News on Wednesday, Jay Foreman, CEO and founder of Basic Fun!, the company that makes Care Bears and Tonka trucks, said of the 125 percent tax on Chinese goods entering the U.S., “You might as well just make it a billion percent because we’re not shipping anything out of China, nobody’s going to be shipping anything out of China ‘til this gets solved.”
More on Policies & Issues
The Latest
MajorsSep 10, 2026
Lagos Founder Steven Lagos Steps Down as CEO Keith Rolfe, CFO and COO of Lagos, is now at the jewelry brand’s helm while Steven takes on the role of executive chairman.
CrimeSep 10, 2026
FBI Offers $50K Reward for ‘Most Wanted’ Fugitive in $1M Jewelry HeistAlberto Perez-Elias is one of four men charged in the armed robbery of a Cape Coral, Florida, jewelry store and remains at large.
AuctionsSep 10, 2026
Massive Matched Pair of Paraíba Tourmalines Head to Sotheby’sThe “Kat Florence Luminas” will be offered together as one lot and could fetch up to $637,000.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
SourcingSep 10, 2026
AGTA Announces 4 Newly Elected DirectorsFour directors were elected to the AGTA board and will serve three-year terms beginning in February.
Weekly QuizSep 10, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
AuctionsSep 10, 2026
Former Sotheby’s, Christie’s Exec Appointed CEO of Julien’s Auctions Ken Citron joins the celebrity memorabilia-focused auction house ahead of its first week-long series of events in Abu Dhabi.
FinancialsSep 09, 2026
Signet Jewelers to ‘Double Down’ on Blue Nile Amid Strong SalesThe jewelry retailer said it sees opportunity at higher price points, particularly in natural diamonds for bridal and fashion.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
IndependentsSep 09, 2026
Sarah Leonard Fine Jewelers Closes After Nearly 80 YearsThe Los Angeles-based, family-owned jeweler was founded by Lenny and Sunny Friedman in 1946.
SourcingSep 09, 2026
Fura Gems Notes ‘Remarkable’ Interest in Larger Rubies at Latest SaleThe auction, held in Bangkok, was 96 percent sold by lot, with nearly 411,000 carats of Mozambiquan rubies sold.
MajorsSep 09, 2026
Stuller’s Latest Catalog Includes Its New Demi-Fine CollectionFine Jewelry 2027-2028 has more than 900 new styles, including silver, gold-filled, gold-plated sterling silver, and vermeil jewelry.
IndependentsSep 08, 2026
Ricky Bromberg, Longtime President of Bromberg & Co., Dies at 67 Bromberg is remembered as a Southern gentleman who always wore a suit and tie and treated others with kindness.
TrendsSep 08, 2026
Amanda’s Style File: A Hot Take on September’s Birthstone With high durability and a wide range of colors to choose from, sapphires may be the ultimate birthstone, Gizzi claims.
ColumnistsSep 08, 2026
Peter Smith: Humor Is No Laughing MatterLaughter is often considered a distraction in the workplace, but it has benefits for both staff and management, Peter Smith writes.
MajorsSep 08, 2026
Former Tiffany & Co. Exec Joins Exemplar Luxury GroupGretchen Koback Pursel is the new chief people officer at the company formerly known as Saks Global.
IndependentsSep 04, 2026
Orloff Jewelers Will Soon Unveil a Bigger, Better LocationThe California jeweler is renovating its store in Fresno, with plans to show off the new space in December.
CollectionsSep 04, 2026
Chelsea Gabrielle Transforms Pilates Reformer Springs Into Ring A lifelong practitioner of Pilates, Gabrielle looked to the springs’ tension and suspension when creating this ring, our Piece of the Week.
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 ApplicationsThe deadline to apply is Nov. 13.
AuctionsSep 04, 2026
Christie's Names New Global Head of WatchesThe auction house has promoted Remi Guillemin, formerly its head of watches for the Americas and EMEA, to the role.
EditorsSep 03, 2026
Q&A: Simon G.’s CEO on Why He Won’t Use AI for Jewelry DesignZaven Ghanimian discussed the value of human craftsmanship and where the implementation of artificial intelligence does work.
Events & AwardsSep 03, 2026
Here Are the First Recipients of Nina Pugliese Memorial Scholarship Jewelers of America also revealed the recipients of the Seymour & Evelyn Holtzman Bench Scholarship and its own scholarship programs.
WatchesSep 03, 2026
Robert Pattinson Joins Jaeger-LeCoultre as Brand AmbassadorThe British actor, known for his roles in “Twilight” and “The Odyssey,” will star in a campaign for the Master Control Chronometre.
CollectionsSep 03, 2026
Sydney Evan Celebrates 25 Years With 4 New CollectionsThe “Confetti Disco,” “Champagne Cheers,” “Tuxedo,” and “Classic Punk” jewelry collections each capture a distinct spirit of celebration.
CrimeSep 02, 2026
CA Jeweler Gets 5 Years in ‘Phantom Rolex’ Ponzi SchemeNelson Holdo of Newport Beach pleaded guilty to multiple counts of felony grand theft and writing bad checks and was sentenced Monday.
AuctionsSep 02, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s “significant” collection of cat jewelry and other objects is going up for auction.
MajorsSep 02, 2026
Messika Names Former Omega Exec as New President, CEO of AmericasArnaud Michon, the former Omega USA President, will now lead Messika’s Americas region during its international development.
Events & AwardsSep 02, 2026
Emerald’s New Owner Introduces ‘Glitter in the Grove’The branding references the back-to-back jewelry shows that new parent company Forge will host in Miami's Coconut Grove this November.
