Policies & IssuesJul 20, 2026
Tariffs on Brazil to Increase But Rough Gemstones ExemptPolicies & IssuesJul 22, 2026
Trump to Put 50% Tariff on Canadian Goods
The higher tax is set to go into effect in August and will apply to loose polished diamonds as well as precious and base metals jewelry.
President Donald Trump announced a new 50 percent tariff on imports from Canada that includes loose polished diamonds. The administration said the new taxes are being levied in response to Canada’s decision to place a quota on imports of U.S.-made cheese and automobiles, and the decision by all but two Canadian provinces and territories to pull U.S.-made alcohol from store shelves.
Washington, D.C.—President Donald Trump announced a planned 50 percent tariff on a wide range of Canadian goods in retaliation for what he described as the country’s “discrimination” against American dairy products, alcohol, and automobiles.
The new tariffs, which will not go into effect until mid-August, come amid talks to update the United States-Mexico-Canada Agreement (USMCA).
The president issued three separate proclamations Monday imposing the tax on imports in three categories: dairy, alcoholic beverages, and motor vehicles.
Attached to the president’s proclamation on motor vehicles is an annex containing a long list of products that will be subject to the tariff starting next month.
Among them are: loose polished diamonds (HTS Code 7102.39.00); semi-manufactured .995 silver, including silver plated with gold or platinum (HTS Code 7106.92.10); silver jewelry or parts valued at more than $18 per dozen pieces or parts (HTS Code 7113.11.50); gold necklaces and neck chains, excluding rope and mixed-link chains (HTS Code 7113.19.29); precious metal jewelry that is not silver, including plated jewelry (HTS Code 7113.19.50); and base metal jewelry (HTS Code 7117.19.90).
Notably, the annex does not include rough diamonds, so any diamonds exported from Canada for cutting in another country, like India, ultimately would be considered a product of the country where they are cut and polished and taxed accordingly.
In a member alert sent Tuesday, the Jewelers Vigilance Committee noted that the new tariffs apply to the above-listed products even if they would qualify for duty-free treatment under the USMCA and will be applied on top of any other tariff levied on Canadian goods.
The White House said in a fact sheet that the 50 percent tariffs are set to go into effect 30 days after signing, which would be Aug. 19.
Up-to-date information on current tariff rates is available via the JVC’s Tariff Tracker.
Related stories will be right here …
The new tariffs, which will not go into effect until mid-August, come amid talks to update the United States-Mexico-Canada Agreement (USMCA).
The president issued three separate proclamations Monday imposing the tax on imports in three categories: dairy, alcoholic beverages, and motor vehicles.
Attached to the president’s proclamation on motor vehicles is an annex containing a long list of products that will be subject to the tariff starting next month.
Among them are: loose polished diamonds (HTS Code 7102.39.00); semi-manufactured .995 silver, including silver plated with gold or platinum (HTS Code 7106.92.10); silver jewelry or parts valued at more than $18 per dozen pieces or parts (HTS Code 7113.11.50); gold necklaces and neck chains, excluding rope and mixed-link chains (HTS Code 7113.19.29); precious metal jewelry that is not silver, including plated jewelry (HTS Code 7113.19.50); and base metal jewelry (HTS Code 7117.19.90).
Notably, the annex does not include rough diamonds, so any diamonds exported from Canada for cutting in another country, like India, ultimately would be considered a product of the country where they are cut and polished and taxed accordingly.
In a member alert sent Tuesday, the Jewelers Vigilance Committee noted that the new tariffs apply to the above-listed products even if they would qualify for duty-free treatment under the USMCA and will be applied on top of any other tariff levied on Canadian goods.
The White House said in a fact sheet that the 50 percent tariffs are set to go into effect 30 days after signing, which would be Aug. 19.
Up-to-date information on current tariff rates is available via the JVC’s Tariff Tracker.
The Canadian tariffs are being enacted under section 338 of the Tariff Act of 1930, also known as the Hawley-Smoot Tariff.
The statute allows the president to impose tariffs when a country “disadvantages U.S. exporters relative to the exports of another country to offset the disadvantage or burden on U.S. commerce.”
It is one of two tariffs acts the Trump administration has turned to following the Supreme Court’s February ruling striking down the import taxes he enacted under the International Economic Emergency Powers Act last year.
Immediately following the Supreme Court’s ruling, the Trump administration imposed a temporary 10 percent across-the-board tariff utilizing section 122 of the Trade Act of 1974.
Those tariffs are set to expire this coming Friday, July 24.
Earlier this month, the Office of the United States Trade Representative (USTR) filed a notice that tariffs on Brazil would increase to 25 percent, effective today, under section 301 of the Trade Act of 1974.
Rough gemstones exported from Brazil for cutting in other countries are exempt from the new tariff, but polished gemstones and finished jewelry are not.
Tariffs on 60 countries ranging from 10 to 12.5 percent also are set to go into effect following a USTR investigation that determined the countries do not do enough to prevent goods made using forced labor from being imported into their countries.
The Trump administration also is imposing these tariffs under section 301 of the Trade Act of 1974; an implementation date has yet to be announced.
There is another section 301 investigation into what the Trump administration alleges is “overproduction” by 16 countries, including India, China, Thailand, the European Union and Switzerland, though a trade attorney told the Los Angeles Times that any tariffs that result from that investigation likely won’t take effect until after the midterm elections.
“President Trump has stated that tariffs are here to stay,” Jewelers of America President and CEO David Bonaparte said Tuesday.
“Jewelers of America continues to appeal to the administration to consider exemptions for specific HS codes related to diamonds, gemstones, and pearls.”
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