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.”
Editors' Picks
Sponsored by
More on Policies & Issues
The Latest
ColumnistsJul 21, 2026
Sherry Smith: Shattering the Illusion of the ‘Either/Or’ Diamond MarketSmith offers retailers guidance on creating an environment where natural and lab-grown diamonds can both thrive.
Events & AwardsJul 21, 2026
Apollo Funds Completes Emerald AcquisitionFormer Emerald President and CEO Hervé Sedky has transitioned to the role of senior advisor.
CollectionsJul 21, 2026
Graff’s New Butterfly High Jewelry Brooches MetamorphosizeThe 12-piece capsule collection transforms from brooches to pendants.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
SourcingJul 21, 2026
Anglo Reportedly Selects Gareth Penny’s Consortium as Top Bidder for De BeersA Botswana government official told lawmakers Anglo has selected The Global Diamond Consortium, an entity chaired by Penny, to buy De Beers.
Weekly QuizJul 17, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 20, 2026
Vhernier Transforms ‘Freccia’ Collection Into High JewelryThe collection from 2014 has been reinterpreted into high jewelry with its signature triangular-shaped elements.
MajorsJul 20, 2026
Krista Collins Walters Promoted to Publisher of InstoreShe will also take on the role of vice president of jewelry for SmartWork Media, a newly created position.
Brought to you by
Building the Future of Jewelry Retail: DCA Expands Education, Leadership Development, and Workforce SolutionsDCA is preparing the next generation of professionals by supporting workforce development, leadership growth, and career advancement.
Events & AwardsJul 20, 2026
TJS Accepting Speaker Proposals for 2027 EventOrganizers are looking for presentations on topics like manufacturing, technology and research, bench work, gemstones, and sustainability.
CollectionsJul 17, 2026
HOWL Taps Shailene Woodley for ‘Home Sweet Home’ CampaignWoodley is seen in the campaign wearing our Piece of the Week, the “Frida” collar featuring 13 pieces of hand-carved Venetian glass.
SourcingJul 17, 2026
U.K. Woman Pays £5 for £15K Diamond Ring at Car Boot SaleA WeBuyVintage jewelry expert uncovered how much the flea market find was actually worth.
SourcingJul 17, 2026
Diamond Dealer Jeff Pancis Pens MemoirThe founder of natural colored diamond wholesaler Pancis Gems shares stories from his five decades in the industry.
Events & AwardsJul 17, 2026
Gem Awards Opens 2027 Nomination PeriodSubmissions for the milestone 25th annual Gem Awards will be accepted across three categories from now through July 31.
EditorsJul 16, 2026
Q&A: Guzema’s Co-Owners On Its US Expansion, 10-Year AnniversaryValeriya Guzema and Mariana Lenha look back on the last decade and discuss the Ukrainian brand’s first U.S. store.
SourcingJul 16, 2026
Ekati to Close, Leaving Canada With One Diamond Mine The diamond mine, which opened nearly 30 years ago in Canada’s Northwest Territories, is expected to shut down by mid-August.
FinancialsJul 16, 2026
Richemont’s Jewelry Sales Soar for the Seventh Quarter in a RowJewelry sales for the company, which owns Cartier, Van Cleef & Arpels, Vhernier, and Buccellati, rose 21 percent in the first quarter.
Events & AwardsJul 16, 2026
MJSA Mentor & Apprenticeship Program Certifies First Advanced Apprentice GraduateThe graduate, Grace Barden, credited the program with helping her secure a job as a bench jeweler.
Events & AwardsJul 16, 2026
Jewelers of Louisiana to Host 80th ConventionThe event, scheduled for next month in New Orleans, will include dinner, a custom jewelry design contest, and education sessions.
SourcingJul 15, 2026
1,305-Carat Diamond Recovered from Mine in BotswanaThe yet-to-be named stone is the 10th diamond weighing more than 1,000 carats to come out of Lucara’s Karowe mine.
IndependentsJul 15, 2026
New Jersey Jeweler Barry Berman Dies at 81The founder of Fords Jewelers, Berman is remembered for his love of connecting with his community.
FinancialsJul 15, 2026
Watches of Switzerland’s US Sales Jump 18%, Declines to Comment on Sale Report The watch and jewelry retailer had a strong fiscal year despite what its CEO described as a “complex operating backdrop.”
Events & AwardsJul 15, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
CollectionsJul 15, 2026
Pomellato’s New High Jewelry Is LiberatingBold color, expressive gem-setting, and sculptural form define the three chapters that make up “Stile Libero.”
IndependentsJul 14, 2026
Foundrae Opens First Standalone Store Outside USThe New York-based jewelry brand has expanded overseas, opening a store in London’s Mayfair district.
ColumnistsJul 14, 2026
Sherry Smith: What Today’s Jewelry Consumer Is Telling Us Rising revenue does not automatically mean a healthy business, particularly in the current economic landscape, Smith writes.
TrendsJul 14, 2026
Amanda’s Style File: Shoulder Dusters These long, fluid drop earrings are sure to catch the eye.
CrimeJul 14, 2026
Man Charged in $1M Jewelry Store Heist Lands on FBI Most Wanted ListAlberto Perez-Elias is one of four men charged with robbing a Cape Coral, Florida, jewelry store and is the only one still at large.
