Policies & Issues

Trump Presses Pause on Higher Tariffs for 90 Days

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.

Stock image of shipping containers
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 … 

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.” 

The Latest

Stock image of police cars with their lights on
CrimeMay 23, 2025
JSA Shares Holiday Weekend Security Tips Amid Spike in Burglaries

JSA’s Scott Guginsky provided a list of nine security measures jewelers should observe while locking up for the long weekend.

Bliss Lau Bright Ring
CollectionsMay 23, 2025
Piece of the Week: Bliss Lau’s ‘Bright’ Ring

From Lau’s “Love of a Kind” series, the engagement ring was inspired by the moon and holds a different meaning depending on how it is worn.

GIA pearl report
GradingMay 23, 2025
GIA Updates Pearl Classification System

The lab has adjusted the scale it uses for nacre grading.

antique_Vegas_2024_by_headshot_stories_9454.jpg
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the Globe

Gain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.

GCALbySarine Diamond Journey Certificate_1872x1052.jpg
Supplier BulletinMay 22, 2025
How to Put Natural Diamonds Back in the Spotlight

Sponsored by GCAL by Sarine

Weekly QuizMay 22, 2025
This Week’s Quiz
Test your jewelry news knowledge by answering these questions.
Take the Quiz
The late West Virginia jeweler David Ettinger
CrimeMay 22, 2025
NY Jeweler Sentenced in Shoving Death of Colleague at IJO Show

David Walton will serve three years’ probation after an incident in a hotel bar led to the death of West Virginia jeweler David Ettinger.

Watches of Switzerland store in Mall of America
FinancialsMay 22, 2025
Watches of Switzerland’s Full-Year U.S. Sales Climb 14%

The retailer also provided an update on how the tariffs situation in the U.S. is affecting its business.

Supplier Spotlight -Recorded-Webinar.png
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest Addition

Supplier Spotlight Sponsored by GIA

Jorge Adeler, Wendy Adeler, Valentina Adeler
IndependentsMay 22, 2025
Adeler Jewelers Celebrates 50 Years

The family-owned jeweler in Great Falls, Virginia, will be celebrating its golden jubilee with a year’s worth of events.

Jose Hess Design Awards 2025 Trophy
Events & AwardsMay 22, 2025
Jose Hess Design Awards Announce Judges

The nonprofit elected five judges who will decide the winners of its design competition.

MJSA 2025-2026 Buyer’s Guide
MajorsMay 22, 2025
MJSA Releases 2025-2026 Buyer’s Guide

This year’s edition includes articles on the favorite tools of notable designers, evaluating when to outsource production, and more.

Bulgari Invisible Violet Necklace and Rainbow Flow Necklace
CollectionsMay 21, 2025
Bulgari Highlights Its Colorful Past in Phenomenal ‘Polychroma’ Collection

The jeweler’s high jewelry collection features extraordinary gemstones, like a 241.06-carat emerald and the world’s fourth-largest spinel.

Industry analyst Edahn Golan
ColumnistsMay 21, 2025
Edahn’s Take: Analyzing the 2025 ‘$100 Million Supersellers’ List

In a special column for the State of the Majors, Edahn Golan breaks down what the top-performing fine jewelry sellers are doing right.

Beyoncé bolo tie necklace
MajorsMay 21, 2025
Beyoncé Dons Brilliant Earth Necklace During Cowboy Carter Tour

The bolo tie necklace is inspired by “Queen Bey” and set with a nearly 15-carat black diamond.

Gem Legacy logo
SourcingMay 21, 2025
Gem Legacy Expands Advisory Council

The nonprofit focused on mining communities in East Africa has added three new members to its advisory council.

Annie Doresca
MajorsMay 20, 2025
Annie Doresca to Lead DCA as New CEO, President

Current Diamond Council of America President and CEO Terry Chandler is set to retire in January 2026.

QVC Group logo
FinancialsMay 20, 2025
QVC Group to Voluntarily Delist from Nasdaq

The company's Series A shares will continue to trade following a reverse stock split while its Series B shares will be delisted.

National Jeweler columnist Peter Smith
ColumnistsMay 20, 2025
Peter Smith: Leading Through Change

Communicating clearly with your staff is key to navigating turbulent times, writes columnist Peter Smith.

Luis Morais Miami Beach Flagship Interior
IndependentsMay 20, 2025
Luis Morais Opens Flagship, Launches Collection Celebrating 25 Years

The “Inner Journey” collection debuted as the brand celebrated its 25th anniversary, with designs inspired by Morais’ journey.

Exterior of Tanishq Santa Clara Storefront
MajorsMay 20, 2025
Tanishq Opens Seventh U.S. Store

Tanishq is expanding its presence in the United States with a new store in Santa Clara, California, which is its largest in the country.

New Cartier store at Los Angeles airport
FinancialsMay 19, 2025
Jewelry Sales a Standout for Richemont in 2024

Sales for Richemont’s four jewelry brands increased 8 percent, while watch sales picked up toward the end of the year.

Instappraise and NAJA logos
Events & AwardsMay 19, 2025
NAJA Opens Scholarship Applications for 2025

Two scholarships are available, one for new and non-members and another for NAJA certified members.

Day’s Jeweler’s Tuscan Village Location Painting
IndependentsMay 19, 2025
Day’s Jewelers to Open Ninth Location

The retailer’s new flagship is set to open in October at the Tuscan Village development in Salem, New Hampshire.

Gemfields emeralds, rubies, sapphires
SourcingMay 19, 2025
State of Colored Stones: The Big Three in the Modern World

Sapphires, emeralds, and rubies are finding their place in a U.S. market captivated by the gemstones once referred to as “semi-precious.”

Saks on Amazon flagship window
MajorsMay 16, 2025
Saks Fifth Avenue, Amazon Partner on Luxury Online Storefront

Plus, parent company Saks Global announces plans to cut ties with up to 600 vendors.

Graphic for My Next Question webinar with guest Peter Smith
Recorded WebinarsMay 16, 2025
Watch: Physical Retail Is Not Dead

Peter Smith joined Michelle Graff to chat about the state of brick-and-mortar stores and share a few book and podcast recommendations.

Tejen Candy Bowl Torque Necklace
CollectionsMay 16, 2025
Piece of the Week: Tejen’s ‘Candy Bowl’ Torque Necklace

The necklace features a candy-colored Australian white opal in 18-karat Fairmined gold, as the brand was named a Fairmined ambassador.

×

This site uses cookies to give you the best online experience. By continuing to use & browse this site, we assume you agree to our Privacy Policy