SourcingMay 01, 2025
Tariffs & Colored Gemstones: Relying on Stock, Considering the Ripple EffectPolicies & IssuesMay 12, 2025
Tariffs on Chinese Imports Temporarily Slashed as U.S.-China Reach Deal
Following weekend negotiations, the tax on Chinese goods imported into the United States will drop by 115 percent for the next 90 days.
The United States and China have reached a deal that brings a temporary halt to the trade war between the two nations. For the next 90 days, the tariffs on Chinese goods imported to the United States will be lowered to 30 percent, while the tax on U.S. goods going into China drops to 10 percent.
Washington, D.C.—Following a weekend of negotiations in Geneva, Switzerland, the White House announced Monday that the United States has reached a deal with China that will temporarily reduce tariffs on Chinese imports to the U.S.
In a statement, the Trump administration said the U.S. and China will each lower tariffs by 115 percent for 90 days while officials for both sides try to hammer out a long-term deal.
This means that the tax on Chinese goods coming into the U.S. (which includes goods from Hong Kong) has been reduced from 145 percent to 30 percent, while the tariff on U.S. goods entering China has been cut from 125 percent to 10 percent.
These changes are slated to go into effect by Wednesday.
The now-30 percent tariff on Chinese goods is assessed in addition to whatever pre-existing 301 tariffs importers already are paying on the goods they bring in from China, Jewelers Vigilance Committee President, CEO, and General Counsel Sara Yood noted.
The 90-day deal between the U.S. and China turns down the heat on a trade war that was poised to significantly impact the world’s two largest economies, and stock markets and the U.S. dollar jumped following the announcement.
In a joint statement issued Monday, the U.S. and China said they recognize “the importance of their bilateral economic and trade relationship to both countries and the global economy” and of the two countries having a “long-term, and mutually beneficial, economic and trade relationship.”
They said they plan to move forward “in the spirit of mutual opening, continued communication, cooperation, and mutual respect.”
Related stories will be right here …
In a statement, the Trump administration said the U.S. and China will each lower tariffs by 115 percent for 90 days while officials for both sides try to hammer out a long-term deal.
This means that the tax on Chinese goods coming into the U.S. (which includes goods from Hong Kong) has been reduced from 145 percent to 30 percent, while the tariff on U.S. goods entering China has been cut from 125 percent to 10 percent.
These changes are slated to go into effect by Wednesday.
The now-30 percent tariff on Chinese goods is assessed in addition to whatever pre-existing 301 tariffs importers already are paying on the goods they bring in from China, Jewelers Vigilance Committee President, CEO, and General Counsel Sara Yood noted.
The 90-day deal between the U.S. and China turns down the heat on a trade war that was poised to significantly impact the world’s two largest economies, and stock markets and the U.S. dollar jumped following the announcement.
In a joint statement issued Monday, the U.S. and China said they recognize “the importance of their bilateral economic and trade relationship to both countries and the global economy” and of the two countries having a “long-term, and mutually beneficial, economic and trade relationship.”
They said they plan to move forward “in the spirit of mutual opening, continued communication, cooperation, and mutual respect.”
The trade war with China has been building since April 2, when President Donald Trump announced a sweeping slate of tariffs that included a 10 percent across-the-board tariff on all goods imported into the U.S., as well as higher “reciprocal” tariffs on nearly 60 nations.
Key countries in the jewelry supply chain, including India, Thailand, Vietnam, Switzerland, and Botswana, were on the reciprocal tariff list.
However, hours after those tariffs took effect on April 9, Trump announced a 90-day pause to allow for negotiations.
The baseline tariff of 10 percent remains in place for all goods and those import taxes are levied in addition to existing duties importers already pay.
More on Policies & Issues
The Latest
CrimeOct 15, 2025
Men Receive Lengthy Prison Sentences for 2023 Murder of Colorado JewelerCharles Robinson Shay was sentenced to life in prison plus 120 years while his accomplice, Michael James McCormack, got 75 years.
Events & AwardsOct 15, 2025
‘Douriean Fletcher: Jewelry of the Afrofuture’ Opens at MADThe Museum of Arts and Design's new exhibition features 75 pieces by the designer, best known for her work in the “Black Panther” films.
Events & AwardsOct 15, 2025
JCK, Luxury to Debut New Watch Section in Vegas Next YearTimepieces at Luxury will take place at The Venetian and, like Luxury, will be invitation-only for the first two days.
Brought to you by
Protect Your Customers and Your BusinessYou deserve to know what you are selling–to protect your customers as well as your business and your reputation.
AuctionsOct 15, 2025
Christie's Announces New Jewelry Department LeadershipThe auction house named a new global head of jewelry, as well as a new head of the jewelry department for the Americas.
Weekly QuizOct 09, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
IndependentsOct 15, 2025
Retailer Hall of Fame 2025: Kathy CoreyCorey rescued New England chain Day’s Jewelers, preserving its legacy with strong people skills, pragmatism, and a “get-it-done” attitude.
IndependentsOct 14, 2025
Retailer Hall of Fame 2025: Tom DixonAs chairman of Schwanke-Kasten Jewelers, Tom Dixon has been tasked with honoring the past and shaping the future of the family-run store.
Brought to you by
JA New York Fall Is Right Around the CornerThe upcoming show provides savvy retailers with the opportunity to stock their cases with best sellers in advance of the holiday season.
Events & AwardsOct 14, 2025
Here Are the Winners of the BIJC, JA ‘Emerging Jewelers’ Grant Katty Villapando Lyte and Mica Rencher received a $10,000 grant for their business, Shimmer Culture LLC.
IndependentsOct 14, 2025
Day’s Jewelers Crafts Custom Jewelry for No.1 NBA Draft Pick Cooper FlaggThe parents of the Dallas Mavericks rookie bought their engagement ring at a Day’s store in Bangor, Maine, in 1997.
SourcingOct 14, 2025
Pragnell Debuts Kitulo Garnet Jewelry The UK-based brand sourced the gemstones, which are fully traceable, from an artisanal mining community in Tanzania.
CollectionsOct 10, 2025
Count Down to the Holidays With Astrid & Miyu’s Advent CalendarsThe trio of Advent calendars include a version with 18-karat gold and lab-grown diamond jewelry in a red lacquer jewelry box.
CollectionsOct 10, 2025
Piece of the Week: Marla Aaron’s ‘Nymphenburg Lock’Created in collaboration with Nymphenburg Porcelain, the lock is part of a four-piece collection that took two years to bring to fruition.
MajorsOct 10, 2025
Frederick Goldman Names New VP of SalesJewelry industry veteran Alisa Bunger has taken on the role.
SourcingOct 09, 2025
Feriel Zerouki Is Leaving De Beers The company and industry leader’s two-decade tenure with De Beers will come to a close at the end of the month.
AuctionsOct 09, 2025
This Fabergé Egg Could Crack $27M At Auction“The Winter Egg” set the world auction record for a Fabergé piece twice at previous Christie’s sales.
MajorsOct 09, 2025
Sy Kessler Buying Watch Batteries as Silver Hits Record High The company will pay 1.5x silver’s current spot price for each pound of silver oxide batteries submitted.
CollectionsOct 09, 2025
Katkim Launches First Men’s CollectionThe line includes a “Shadow” series crafted exclusively for the new men’s offering and reimagined styles from the brand’s core collections.
SourcingOct 09, 2025
Gemfields’ Mini Mixed-Quality Ruby Auction Garners $11MThe rough on offer was recovered from a newer area at the Montepuez mine.
SourcingOct 08, 2025
In ‘Storied Diamond,’ Jared Jewelers Is Emphasizing the Journey The retailer’s new collection of engagement rings and fashion jewelry is set with natural diamonds that are traceable via blockchain.
CollectionsOct 08, 2025
Emily P. Wheeler Shifts Into Neutral for Latest ‘Ombré’ CollectionThe champagne colorway in her newest “Ombré” collection combines white and trendy brown diamonds, a departure from her usual vibrant hues.
CollectionsOct 08, 2025
Tsuba Designs Inspire Monica Rich Kosann’s New CharmsKosann partnered with the Museum of Fine Arts, Boston, to create a set of necklaces inspired by the artwork on samurai sword handguards.
CrimeOct 07, 2025
Men Who Posed as Utility Workers Found Guilty in Jeweler’s MurderCarlos Jose Hernandez and Joshua Zuazo face life in prison for the October 2024 murder of 72-year-old Detroit-area jeweler Hussein Murray.
CollectionsOct 07, 2025
Jessica McCormack Looks to Sea Spirits for ‘Tempest’ CollectionThe brand’s first high jewelry collection, “Tempest” plays with movement while calling to mind the folklore of the sea.
SourcingOct 07, 2025
Columbia Gem House Announces ‘Opals for Outback Heroes’ FundraiserProceeds from its jewelry raffle will go to a volunteer-run fire and rescue group in the Lightning Ridge area of New South Wales, Australia.
MajorsOct 07, 2025
Stuller Names Its S.E.R.V.E Stars for 2025Stuller said the recipients embody the company’s core values, which include community participation and personal and professional growth.
WatchesOct 06, 2025
This Fall, Citizen’s Forecast Calls for RainCitizen’s new “Rainell” women’s watch has a raindrop-shaped case and is available with a silver-, gold-, purple-, or green-colored dial.
