The Economic Times

GJEPC seeks US export duty cut to 57% after 18% levy; exporters to meet Piyush Goyal on February 11

To be sure, precious stones such as diamonds attracted zero duties until late 2024 before the levies were progressively raised after Donald Trump took office in January 2025. Tariffs on both stones and finished jewellery were raised to 50% before the announcement of a deal was made earlier this month.