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
CollectionsAug 28, 2026
Dolly Parton Would Have Loved This Butterfly Necklace This Buddha Mama butterfly is our Piece of the Week honoring the legend, who embraced the beautiful insect as her symbol.
SourcingAug 28, 2026
Gareth Penny to Give Opening Speech at CIBJO Centenary CongressThe former De Beers CEO, and perhaps its next owner, will be a featured speaker at the event, slated for Sept. 4-7 in Italy.
IndependentsAug 28, 2026
Day’s Jewelers Honored With 3 Workplace AwardsThe employee-owned jeweler was named a “Best Place to Work” in Maine, New Hampshire, and for women.
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.
CollectionsAug 27, 2026
Pandora Expands ‘Talisman’ Collection as Lawsuit Continues The second iteration of the jewelry collection was inspired by the zodiac and the four elements: earth, water, air and fire.
Weekly QuizAug 27, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingAug 27, 2026
OFAC Renews License Allowing Import of ‘Grandfathered’ Russian Diamonds General License 104B supersedes General License 104A, which was set to expire on Sept. 1.
CrimeAug 27, 2026
Customs Seizes Nearly 900 Pieces of Counterfeit JewelryThe package, intercepted in Indianapolis, contained fake Cartier, Tiffany & Co., and Van Cleef and Arpels jewelry.
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.
IndependentsAug 27, 2026
Jessica McCormack to Open First West Coast StoreThe new location in Costa Mesa, California, marks the brand’s second store in the United States and fourth standalone location worldwide.
FinancialsAug 27, 2026
Movado’s Q2 Sales Up As Younger Consumers Take Interest in WatchesThe fashion watch category was once threatened by the Apple Watch, but consumers are now opting for new wearables, said Movado’s CEO.
SurveysAug 26, 2026
5 Jewelry Insights From The RealReal’s Resale ReportThe report delves into trending styles, the most popular jewelry brands by city, and why Belle Époque jewelry could be the next big thing.
Lab-GrownAug 26, 2026
AGTA Now Requiring Members to Call Lab-Grown Gems ‘Synthetic’The association added the requirement to its revised "Code of Ethics" and released the 17th edition of its “Gemstone Information Manual.”
SurveysAug 26, 2026
Consumer Confidence Dips in August Amid Anticipatory Anxieties Respondents were concerned about the future of the labor market and their income as well as the rising prices of gas and groceries.
TrendsAug 26, 2026
Boucheron’s New Campaign Celebrates Its ‘Question Mark’ NecklacesThe campaign highlights the asymmetrical high jewelry necklace style that the jeweler first created in 1879.
Events & AwardsAug 26, 2026
Harry Winston Exhibition to Open in ShanghaiIt will explore the life of “The King of Diamonds” and showcase more than 165 creations from the brand.
CrimeAug 25, 2026
Florida Woman Scammed Out of $1.5M in Jewelry, Precious MetalsTwo suspects have been arrested in connection with the complex phone scam.
ColumnistsAug 25, 2026
Proof Before Purchase: The Gen Z Way to BuyIn her first column for National Jeweler, Jennifer Shaheen asks jewelers if they know how to connect with the next generation of consumers.
Events & AwardsAug 25, 2026
SSEF Opens 2026 Applications for Gemology Education ScholarshipsThe annual awards cover tuition for an on-site educational course at the Swiss lab, as well as flights and lodging.
TrendsAug 25, 2026
Brent Neale Celebrates Blackberry Farm’s Anniversary With JewelryThe jeweler partnered with the Tennessee resort to honor its 50th anniversary with limited-edition blackberry pendants and earrings.
EditorsAug 24, 2026
Q&A: Reeds Jewelers VP Genna Zimmer on 80 Years in BusinessThe third-generation jeweler shared how the North Carolina retailer is celebrating this milestone and the love story that started it all.
Events & AwardsAug 24, 2026
Rio Grande, MetalWerx Host Argentium Silver WorkshopThe class, led by renowned metalsmith Cynthia Eid, highlighted Argentium silver as an alternative to gold amid high prices.
Events & AwardsAug 24, 2026
JIS Miami Opens Fall 2026 RegistrationThe show is slated for Oct. 16-19 at the Miami Beach Convention Center.
CollectionsAug 24, 2026
Francesca Villa Honors Napoleon, His Empresses In New CapsuleThe “Empresses” capsule uses 19th-century medals depicting Napoleon, Joséphine, and Marie-Louise across five one-of-a-kind pieces.
SurveysAug 21, 2026
These Are 2026’s Hottest Retailers, Says NRFThe retailers at the top of the list offer affordable products and fun, discovery-fueled experiences.
WatchesAug 21, 2026
Bremont Names Former Vacheron Constantin Exec CMODaniel Bing was formerly the marketing director for the Americas at Vacheron Constantin.
CollectionsAug 21, 2026
Bijules, Kamyen Serve Up ‘Topspin’ Tennis Bracelet Ahead of US OpenIn our Piece of the Week, the designers reimagine the tennis bracelet with green enamel wrapped around a strand of “Desert Diamonds.”
PodcastsAug 20, 2026
Episode 8: Diamond Industry Update With David Bonaparte & Ronnie VanderLindenThe industry veterans join the podcast to discuss diamond marketing, the FTC Jewelry Guides, and lobbying for lower tariffs.
