Policies & IssuesFeb 20, 2026
Supreme Court Rules Against Most of President Trump’s TariffsPolicies & IssuesFeb 24, 2026
IEEPA Tariffs Terminated, New 10% Tariff Already Imposed
After the Supreme Court struck down the IEEPA tariffs, President Trump imposed a 10 percent tax on almost all imports via a different law.
As of 12:00 a.m. Eastern on Feb. 24, U.S. Customs and Border Protection has terminated all tariffs President Donald Trump imposed under the International Emergency Economic Powers Act.
New York—The tariffs President Donald Trump imposed under the International Emergency Economic Powers Act were terminated at midnight EST on Feb. 24, but a new tax on imports already is in place and could increase.
In an announcement issued Sunday night, U.S. Customs and Border Protection said it has deactivated the applicable codes in ACE, its system for processing imports and exports, so IEEPA duties will no longer be collected on entries made on or after Feb. 24.
CBP’s announcement followed the release of an executive order terminating these duties in accordance with the U.S. Supreme Court’s ruling that the President cannot impose tariffs under IEEPA, a 1977 law intended to be used in case of national emergencies.
The termination applies only to the tariffs imposed using IEEPA, including the “reciprocal” tariffs that vary country by country.
It does not affect those imposed under different laws, like the steel and aluminum tariffs.
In an announcement issued Sunday night, U.S. Customs and Border Protection said it has deactivated the applicable codes in ACE, its system for processing imports and exports, so IEEPA duties will no longer be collected on entries made on or after Feb. 24.
CBP’s announcement followed the release of an executive order terminating these duties in accordance with the U.S. Supreme Court’s ruling that the President cannot impose tariffs under IEEPA, a 1977 law intended to be used in case of national emergencies.
The termination applies only to the tariffs imposed using IEEPA, including the “reciprocal” tariffs that vary country by country.
It does not affect those imposed under different laws, like the steel and aluminum tariffs.
While the Supreme Court’s decision states that IEEPA cannot be used on its own to impose tariffs, both Jewelers of America and the Jewelers Vigilance Committee noted immediately following Friday’s ruling that there are other avenues for tariff implementation.
Within hours of the ruling, Trump issued a Presidential Proclamation imposing a temporary global import surcharge of 10 percent under section 122 of the Trade Act of 1974.
The provision empowers the president to impose temporary import duties of up to 15 percent to “deal with large and serious United States balance-of-payments deficits.”
Most imported goods will be subject to the surcharge.
Related stories will be right here …
Within hours of the ruling, Trump issued a Presidential Proclamation imposing a temporary global import surcharge of 10 percent under section 122 of the Trade Act of 1974.
The provision empowers the president to impose temporary import duties of up to 15 percent to “deal with large and serious United States balance-of-payments deficits.”
Most imported goods will be subject to the surcharge.
Raw gold products and other items listed in Annex II of the September 2025 executive order regarding reciprocal tariffs will be exempt.
It was not immediately clear as of press time what would happen with the products listed in Annex III, a list that includes rough and polished natural diamonds and gemstones, and natural pearls.
Those products were set to be exempt from tariffs when and if the United States reached a trade deal with the countries importing them; one such deal was in the works with India.
On Saturday, the president said via a post on Truth Social that he would increase the tax to the maximum allowed—15 percent—but the administration had not taken official action on the threatened increase as of press time Tuesday.
The new tariffs will remain in place for 150 days (the statute’s maximum), after which it will expire unless Congress authorizes their continuation.
Importers will see continued higher costs for imports, though now under a different legal authority, JVC noted in a member alert issued Monday.
The organization added that the administration will be holding tariff hearings in the coming months to re-implement additional tariffs using other laws and regulations.
JVC encourages importers to contact customs brokers and international trade counsel to confirm that entries filed on or after Feb. 24 are processed correctly under the new structure.
The organization will post updates to its Tariff Tracker.
More on Policies & Issues
The Latest
EditorsSep 03, 2026
Q&A: Simon G.’s CEO on Why He Won’t Use AI for Jewelry DesignZaven Ghanimian discussed the value of human craftsmanship and where the implementation of artificial intelligence does work.
Events & AwardsSep 03, 2026
Here Are the First Recipients of Nina Pugliese Memorial Scholarship Jewelers of America also revealed the recipients of the Seymour & Evelyn Holtzman Bench Scholarship and its own scholarship programs.
WatchesSep 03, 2026
Robert Pattinson Joins Jaeger-LeCoultre as Brand AmbassadorThe British actor, known for his roles in “Twilight” and “The Odyssey,” will star in a campaign for the Master Control Chronometre.
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.
CollectionsSep 03, 2026
Sydney Evan Celebrates 25 Years With 4 New CollectionsThe “Confetti Disco,” “Champagne Cheers,” “Tuxedo,” and “Classic Punk” jewelry collections each capture a distinct spirit of celebration.
Weekly QuizSep 03, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeSep 02, 2026
CA Jeweler Gets 5 Years in ‘Phantom Rolex’ Ponzi SchemeNelson Holdo of Newport Beach pleaded guilty to multiple counts of felony grand theft and writing bad checks and was sentenced Monday.
AuctionsSep 02, 2026
If You Love Cats, This Jewelry Auction Is for YouCat ladies of the jewelry world, unite. Sandy Lerner’s “significant” collection of cat jewelry and other objects is going up for auction.
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.
MajorsSep 02, 2026
Messika Names Former Omega Exec as New President, CEO of AmericasArnaud Michon, the former Omega USA President, will now lead Messika’s Americas region during its international development.
Events & AwardsSep 02, 2026
Emerald’s New Owner Introduces ‘Glitter in the Grove’The branding references the back-to-back jewelry shows that new parent company Forge will host in Miami's Coconut Grove this November.
AuctionsSep 01, 2026
UK Woman Uncovers Rare Patek Philippe Watch in Mom’s Jewelry BoxThe stainless steel Patek Philippe “Calatrava” watch from the 1930s sold for nearly $80,000 at a recent Hansons Cornwall auction.
ColumnistsSep 01, 2026
Your Jewelry Marketing Has a Bridal ProblemEngagement rings are important but don’t ignore the customers who are buying jewelry “just because,” Emmanuel Raheb writes.
MajorsSep 01, 2026
Kering Names New Pomellato, DoDo CEOsFormer Pomellato CEO Sabina Belli has been named president of Kering Italia amid a shakeup of Kering's new Jewelry division.
MajorsSep 01, 2026
Anne Marie Shulman Joins GPA GlobalThe veteran luxury packaging executive was appointed to help the company grow its North American business.
CrimeAug 31, 2026
$4M Van Cleef & Arpels Diamond Necklace Snatched From Vienna Museum Once the property of an Egyptian queen, the necklace was part of a larger exhibition of VCA jewelry at the Museum of Applied Arts (MAK).
GradingAug 31, 2026
GIA, Gübelin Gem Lab Confirm New Paraíba Tourmaline Deposit in EthiopiaThe labs’ separate investigations each determined that the East African country is producing copper-bearing tourmaline.
Events & AwardsAug 31, 2026
Wisconsin Museum to Host Jewelry Exhibition“Chicago Collects: Jewelry in Perspective” at the Oshkosh Public Museum will feature works by Fabergé, Lalique, and Louis Comfort Tiffany.
CollectionsAug 31, 2026
Catbird Launches First Men’s Jewelry CollectionThe “Worn Well” collection is Catbird's take on classic men's jewelry.
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.
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.
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.
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.
