Policies & IssuesJul 07, 2025
Higher Tariffs Set to Take Effect Aug. 1, Officials SayPolicies & IssuesJul 28, 2025
U.S.-EU Come to Agreement on Tariffs
Announced Sunday, the deal will set the tax on goods imported into the United States from the European Union at 15 percent.
The United States and European Union have reached a preliminary trade deal that places a 15 percent tariff on EU imports. The deal was announced Sunday at President Donald Trump’s golf course in Turnberry, Scotland.
Turnberry, Scotland—On Sunday in Scotland, President Donald Trump and European Commission President Ursula von der Leyen announced that after weeks of negotiations, the two have come to a preliminary trade deal.
While final details are still being hammered out, the agreement reached Sunday will set the tax on the vast majority of EU goods imported into the United States at 15 percent.
That is less than the rate Trump initially proposed when he announced his slate of “reciprocal” tariffs in April, 20 percent, and half of what he threatened in the midst of negotiations earlier this month.
However, it is still a significant increase from the current tariffs on EU goods, which hover in the low single digits on average.
In exchange, the EU has agreed to purchase $750 million in energy from the U.S. over the next three years and increase its investment in the U.S., particularly in the pharmaceutical and automotive industries.
The U.S. and EU also have agreed to a “zero-for-zero” tariff on certain products.
According to a statement from von der Leyen, they are: all aircraft and aircraft component parts; certain chemicals, generic drugs, and agricultural products; semiconductor equipment; natural resources; and critical raw minerals.
The EU is a 27-nation bloc that includes several countries that are part of fine jewelry supply chain, Italy, Belgium, France, and Germany among them.
On Sunday, von der Leyen said the deal gives “much-needed clarity” for the EU’s businesses and its citizens.
Related stories will be right here …
While final details are still being hammered out, the agreement reached Sunday will set the tax on the vast majority of EU goods imported into the United States at 15 percent.
That is less than the rate Trump initially proposed when he announced his slate of “reciprocal” tariffs in April, 20 percent, and half of what he threatened in the midst of negotiations earlier this month.
However, it is still a significant increase from the current tariffs on EU goods, which hover in the low single digits on average.
In exchange, the EU has agreed to purchase $750 million in energy from the U.S. over the next three years and increase its investment in the U.S., particularly in the pharmaceutical and automotive industries.
The U.S. and EU also have agreed to a “zero-for-zero” tariff on certain products.
According to a statement from von der Leyen, they are: all aircraft and aircraft component parts; certain chemicals, generic drugs, and agricultural products; semiconductor equipment; natural resources; and critical raw minerals.
The EU is a 27-nation bloc that includes several countries that are part of fine jewelry supply chain, Italy, Belgium, France, and Germany among them.
On Sunday, von der Leyen said the deal gives “much-needed clarity” for the EU’s businesses and its citizens.
The announcement of the deal between the EU and U.S. comes less than a week before the higher “reciprocal” tariffs Trump initially proposed in April are set to take effect.
The White House has worked out preliminary deals with a few nations, including the United Kingdom, which is not part of the EU (10 percent), Vietnam (20 percent), and Japan (15 percent).
It also reached a temporary deal with China that lowers tariffs on both sides, though that deal is set to expire in mid-August.
For countries that have not struck a deal with the Trump administration, the higher tariffs are set to kick in this coming Friday, Aug. 1.
As of press time, the following are the pending rates on countries that are part of the jewelry supply chain.
These rates are sourced from The New York Times tariff tracker, which is updated regularly.
Angola: 32 percent
Botswana: 37 percent
Democratic Republic of the Congo: 11 percent
India: 26 percent
Israel: 17 percent
Lesotho: 50 percent
Mozambique: 16 percent
Namibia: 21 percent
South Africa: 30 percent
Switzerland (which is not part of the EU): 31 percent
Thailand: 36 percent
Zambia: 17 percent
Zimbabwe: 18 percent
More on Policies & Issues
The Latest
AuctionsDec 10, 2025
Francis Ford Coppola’s Watch Sells for $10.8MThe filmmaker’s personal F.P. Journe “FFC” prototype was the star of Phillips’ recent record-setting watch auction in New York.
WatchesDec 10, 2025
There’s A New Rolex Boutique in MiamiThe new location in the Design District pays homage to Miami’s Art Deco heritage and its connection to the ocean.
SurveysDec 10, 2025
Consumer Confidence Drops in November Inflations, tariffs, and politics—including the government shutdown—were among consumers’ top concerns last month.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
SourcingDec 10, 2025
NAJA Announces Details for 2026 ‘Ace It’ Winter Conference“Longtime favorite” presenters, as well as first-time speakers, will lead talks and workshops at the annual event in Tucson next year.
Weekly QuizDec 04, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsDec 10, 2025
MJSA Names 2025 Responsible Design Challenge WinnerSilas Smith of Meridian Metalworks won the challenge with his pendant that blends Australian and American landscapes.
AuctionsDec 09, 2025
‘Desert Rose’ Diamond Sells for $8.8M in Abu DhabiThe sale of the 31.68-carat, sunset-hued stone was part of Sotheby’s first series of events and auctions in Abu Dhabi.
Brought to you by
Roseco Releases New Full-Line CatalogRoseco’s 704-page catalog showcases new lab-grown diamonds, findings, tools & more—available in print or interactive digital editions.
ColumnistsDec 09, 2025
Holiday Sales Happen in December, Most Decisions Don’tMost customers who walk into your store this month have made up their minds. Your job is to validate their choice, Emmanuel Raheb writes.
TrendsDec 09, 2025
‘Once Upon a Time,’ Guzema Debuted Its Holiday CollectionThe collection features characters and motifs from Ukrainian folklore, including an enchanted mirror and a magic egg.
TechnologyDec 09, 2025
Gemvision Releases Updated MatrixGoldMatrixGold 3.11, the newest version of the jewelry design program, offers more flexibility, precision, and creative control.
Events & AwardsDec 09, 2025
MJSA Showcase Pavilion Returning to JA New York The pavilion will be part of the 2026 JA New York Spring show, scheduled for March 15 to 17.
MajorsDec 08, 2025
Juell Kadet, a ‘Lifelong Pillar’ of Rogers & Hollands, Dies at 96Kadet, a 1994 National Jeweler Retailer Hall of Fame inductee, helped grow the family-owned retailer in the Chicago area and beyond.
TechnologyDec 08, 2025
You’ve Heard of Smart Watches and Rings; Meet Smart EarringsBilled as the world’s smallest wearable, Lumia Health’s new smart earrings have a health tracker subtly embedded in the back.
TrendsDec 08, 2025
Amanda’s Style File: Celebrating December’s BirthstonesDon’t let those with December birthdays feel blue. Help them celebrate their month with blue zircon, turquoise, and tanzanite.
CollectionsDec 05, 2025
Piece of the Week: Robinson Pelham’s ‘Tsar Star’ EarringsThe new pink sapphire version of the piece dances with its wearer in the brand’s “Icons After Dark” holiday campaign.
TrendsDec 05, 2025
Pantone’s Color of the Year for 2026 Is … WhiteA choice that’s generated a lot of commentary, Pantone says “Cloud Dancer” marks a fresh start and encourages relaxation and creativity.
MajorsDec 05, 2025
Stuller Releases ‘Wrapped in Wonder’ CampaignThe manufacturer’s holiday campaign features a gift guide filled with trending designs and jewelry that can be personalized.
CrimeDec 04, 2025
Man Arrested After Allegedly Swallowing Fabergé Egg PendantThe man was charged with theft, accused of ingesting the necklace while in a jewelry store in Auckland, New Zealand.
IndependentsDec 04, 2025
Step Inside JR Dunn Jewelers’ Giant New Store The Florida independent expanded its store from 8,000 to 14,000 square feet, fulfilling the vision of its late co-founder, Jim Dunn.
Supplier BulletinDec 04, 2025
Introducing Shop Natural Day: A New Movement Celebrating Natural DiamondsSponsored by De Beers Group
WatchesDec 04, 2025
Casio Shrinks its G-Shock WatchThe classic 5600 series G-Shock has been scaled down to about a tenth of its size, becoming a fully functioning watch ring.
Events & AwardsDec 04, 2025
AGA Announces 2026 Tucson Speaker LineupThe association’s annual conference and gala will take place Feb. 4, 2026, during the Tucson gem shows.
Events & AwardsDec 04, 2025
CBG Announces Speaker Lineup for 2026 Miami Event The January show will include a workshop for jewelry retailers on implementing AI to strengthen their businesses.
TrendsDec 03, 2025
Miley Cyrus Debuts Edgy Engagement RingFellow musician Maxx Morando proposed to the star with a chunky, cushion-cut diamond ring designed by Jacquie Aiche.
SurveysDec 03, 2025
A Record 202.9M Shoppers Turned Out Thanksgiving WeekendBlack Friday is still the most popular shopping day over the five-day holiday weekend, as per the National Retail Federation’s survey.
AuctionsDec 03, 2025
Fabergé’s 'The Winter Egg' Achieves Record $30MThe historic egg, crafted for Russia's ruling family prior to the revolution, was the star of Christie’s recent auction of works by Fabergé.
