Policies & IssuesJul 30, 2026
JA Heads Back to Washington as New Wave of Tariffs Takes Effect Policies & IssuesSep 17, 2026
Tariffs on India Could Increase as Russian Sanctions Bill Heads to Trump’s Desk
The bill has a provision that allows the president to raise tariffs on countries that import Russian oil and gas to as much as 100 percent.
On Wednesday, the U.S. House of Representatives passed a bill designed to tighten the noose on the Russian economy and force President Vladimir Putin to end the war in Ukraine. The bill contains a provision that could mean higher tariffs on certain countries, including India.
Editor’s note: This story was updated post-publication to note that President Donald Trump has signed the act into law.
Washington, D.C.—The U.S. House of Representatives has passed a bill that contains a fresh round of sanctions on Russia and gives the president the authority to increase tariffs to as much as 100 percent on countries that import Russian oil and gas, including India.
Passed on Wednesday, the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 is designed to restrict the flow of cash to Russian banks, companies, and individuals helping to fund the war in Ukraine, now in its fourth year.
The vote was 262 to 159, with seven Republicans and 152 Democrats comprising the opposition vote.
A representative who opposed the bill said they are not against sanctioning Russia but did not approve of the power the bill gives President Donald Trump to impose broad sanctions.
In a statement released by his office, Rep. Richard Neal (D-MA), a ranking member of the House Ways and Means Committee, said: “Congress just handed Trump sweeping new tariff authority despite all the abuse we’ve seen of the tariff power he already has.
“I strongly support holding Russia accountable and standing with Ukraine, but giving this president another tool to raise costs on the American people is the wrong way to do it. No one can afford this, and I could not be party to socking people with even higher costs and a blank check to Trump.”
Trump signed the bill into law on Friday.
Related stories will be right here …
Washington, D.C.—The U.S. House of Representatives has passed a bill that contains a fresh round of sanctions on Russia and gives the president the authority to increase tariffs to as much as 100 percent on countries that import Russian oil and gas, including India.
Passed on Wednesday, the Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 is designed to restrict the flow of cash to Russian banks, companies, and individuals helping to fund the war in Ukraine, now in its fourth year.
The vote was 262 to 159, with seven Republicans and 152 Democrats comprising the opposition vote.
A representative who opposed the bill said they are not against sanctioning Russia but did not approve of the power the bill gives President Donald Trump to impose broad sanctions.
In a statement released by his office, Rep. Richard Neal (D-MA), a ranking member of the House Ways and Means Committee, said: “Congress just handed Trump sweeping new tariff authority despite all the abuse we’ve seen of the tariff power he already has.
“I strongly support holding Russia accountable and standing with Ukraine, but giving this president another tool to raise costs on the American people is the wrong way to do it. No one can afford this, and I could not be party to socking people with even higher costs and a blank check to Trump.”
Trump signed the bill into law on Friday.
The Lindsey O. Graham Sanctioning Russia and Iran Act of 2026 passed at the same time Jewelers of America was in Washington, D.C., for its fly-in, the annual event that gives JA members the opportunity to meet with their senators and representatives to discuss issues impacting the jewelry trade, like tariffs.
JA and other industry groups and companies, including De Beers Group, have been lobbying lawmakers to add diamonds, gemstones, and pearls to the list of items that are exempt from tariffs, arguing that none of these can be sourced in the United States.
Tariffs on imports from India—the world’s No. 1 diamond manufacturing hub—stand at 10 percent, but the bill gives the president authority to increase taxes on Indian imports to as much as 100 percent.
On Thursday, JA President and CEO David Bonaparte said the organization continues to track tariffs closely and push for jewelry-industry specific exemptions.
“We are the only PAC (Political Action Committee) representing and protecting the fine jewelry business in the U.S. This week, we met with 20 congressmen and senators asking that diamonds, gemstones, and pearls get added to the Anex II list and can enter the U.S. tariff free,” he said.
“Because these items cannot be sourced in the U.S., it makes no sense to add tariffs on these products. Even though the Russia sanctions bill passed we will continue to talk to the administration and fight for this exemption. We support sanctions on Russia but oppose the tariff provision because if enacted it would raise prices for American consumers.”
National Jeweler is a for-profit subsidiary of Jewelers of America, which purchased the publication in 2015. The two organizations act independently of each other.
More on Policies & Issues
The Latest
CollectionsOct 07, 2026
Blue Nile, Royal Asscher Collection Highlights Natural Diamond BeautyBlue Nile, a Signet Jewelers-owned brand, is now Royal Asscher’s exclusive licensed retailer in North America.
CollectionsOct 07, 2026
4 Standout Pieces in Audemars Piguet’s First High Jewelry Collection “Royal Oak” pays homage to the brand’s most popular watch model using 18-karat gold as well as diamonds, emeralds, and sapphires.
MajorsOct 07, 2026
Empire Safe & Vault Promotes Juan Morales to CEOAs part of the transition, Joseph Nicosia has stepped into the role of COO.
Brought to you by
Meet Gemology’s Next Generation Microscope: GIA® Gemolite® NXT Professional EditionExperience gemstones with greater precision and comfort than ever before.
SourcingOct 07, 2026
AGTA Extends Deadline for 2026 Spectrum Awards EntriesParticipants now have until Oct. 14 to complete their submissions.
Weekly QuizOct 01, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
ColumnistsOct 06, 2026
Sherry Smith: Is the Consumer Really Trading Up?Ahead of the holidays, Smith urges jewelers to take a hard look at who’s buying jewelry, what they’re purchasing, and who’s stopped buying.
SourcingOct 06, 2026
DDG Taps Influencers for ‘My Diamond Does Good’ CampaignIn the new consumer-facing campaign, four fashion and lifestyle creators share the stories behind their natural diamond pieces.
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.
MajorsOct 06, 2026
Frederick Goldman Names COO, CMOFGI President John Orrico is also leaving the company after more than 13 years.
Events & AwardsOct 06, 2026
JIS Fall Returns to MiamiThe 2026 edition will feature presentations on alternative materials and design trends, as well as pop-up activations on the show floor.
SourcingOct 05, 2026
De Beers to Take Full Ownership of Gahcho KuéIt is the last fully operational diamond mine in Canada following the recent closures of Ekati and Diavik.
AuctionsOct 05, 2026
The Star Cats of the Sandy Lerner AuctionThese jewels stood out at Bonhams’ sale of the cat-loving tech entrepreneur’s collection of objects depicting the feline form.
CollectionsOct 05, 2026
Sorellina Writes Another Love Letter for ‘Postscript’ CollectionThe fine jewelry brand has expanded the collection that debuted at Couture with four new designs based on its most popular styles.
SourcingOct 05, 2026
Bruce Bridges Joins CIBJO BoardThe AGTA president was elected for a two-year term on the board of directors.
SourcingOct 02, 2026
De Beers, National Geographic Society Renew Okavango Eternal Partnership The partnership, a pledge to protect Africa’s Okavango River Basin, has been extended for an additional five years.
MajorsOct 02, 2026
Pandora Opens New $150M Manufacturing Facility in VietnamThe new facility, its first outside of Thailand, will boost its manufacturing capacity by 50 percent.
TrendsOct 02, 2026
Hearts On Fire Celebrates 30th Anniversary With Heart PendantThe special-edition “Dream” pendant, our Piece of the Week, was created to mark Hearts On Fire’s 30-year milestone with 30 diamonds.
CrimeOct 01, 2026
Police Looking for 4 Suspects in $600K Smash-and-Grab RobberyDubai Jewelers in Springfield, Virginia, was once again the target of an armed robbery.
SurveysOct 01, 2026
Rolex Ranks Among Most Recommended Brands in US, Survey Says YouGov’s 2026 U.S. Most Recommended Brands report’s out, and a fast-fashion giant is sitting at No. 1 while Rolex is just shy of the top 5.
SourcingOct 01, 2026
Columbia Gem House Opens ‘Cutting Toward Change’ FundraiserProceeds from its jewelry raffle will benefit an organization working in India to combat silicosis, a lung disease affecting stone cutters.
TrendsOct 01, 2026
Carolina Hurricanes’ Championship Ring Reveals Hidden Hockey Puck PendantThe rings, crafted by Jason of Beverly Hills, celebrate the hockey team’s Stanley Cup win with design elements that honor its traditions.
TrendsOct 01, 2026
Amanda’s Style File: October’s Color Range This roundup of birthstone jewelry for October features vibrant tourmalines and opals with personality.
SourcingSep 30, 2026
Botswana’s President, De Beers CEO Say Diamond Demand Is RecoveringPresident Duma Boko spoke at back-to-back events in the city last week, touting Botswana’s stability and the diamond “bounceback.”
CollectionsSep 30, 2026
Oscar Heyman’s Holiday Book Is ‘A Living Archive’ The catalog showcases 112 new, one-of-a-kind pieces amid highlights from the jeweler’s historic archive.
SourcingSep 30, 2026
Gemfields Posts $98.5M Loss, Writes Down Value of Ruby MineIts Montepuez Ruby Mining operation in Mozambique, which is not yielding enough high-quality rubies, has taken a $125 million hit.
SurveysSep 30, 2026
Consumer Confidence Falls to 12-Year Low in SeptemberThose surveyed were worried about the present and the future, with write-in responses mentioning high oil and gas prices.
Events & AwardsSep 30, 2026
Jewelers of America, JA New York to Host Networking EventThe event will take place on the evening of Oct. 26 in New York City.
