The Antwerp World Diamond Centre (AWDC) has successfully secured a zero percent US import tariff on natural polished diamonds of European origin. The exemption, part of a US executive order effective retroactively from 1st September, removes the standard 15% duty on EU-polished diamonds, providing a major boost for Antwerp\u2019s role as a global trading and polishing hub.<\/p>\n
The agreement stems from intensive negotiations between the European Commission and the United States, which covered a broad range of industrial exports, including metals, pharmaceuticals, and chemicals. Diamonds polished in Antwerp now fall under the list of exemptions outlined in \u201cAnnex II\u201d of the trade agreement.<\/p>\n
With annual exports of polished diamonds worth USD 2.1 billion to the US, Antwerp stands to gain significantly. \u201cFor goods of European origin \u2013 polished in Antwerp \u2013 which account for half of all polished diamond exports to the US, the 15% tariff will no longer apply,\u201d said AWDC CEO Karen Rentmeesters.<\/p>\n
\u201cBy setting this precedent, we have opened the door for other diamond-producing and polishing countries to negotiate similar arrangements in the near future. A global zero percent tariff on diamonds is particularly important for Belgian diamantaires, who often trade diamonds polished in India,\u201d she explained.<\/p>\n
The AWDC also acknowledged the support of the Belgian government and the European Commission. \u201cTogether, we demonstrated that a 15% import duty offered no benefit to the US market, which relies entirely on imports to meet consumer demand. This decision underscores the strategic importance our governments place on Belgium\u2019s diamond industry,\u201d Rentmeesters said.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Antwerp World Diamond Centre (AWDC) has successfully secured a zero percent US import tariff on natural polished diamonds of European origin. The exemption, part of a US executive order effective retroactively from 1st September, removes the standard 15% duty on EU-polished diamonds, providing a major boost for Antwerp\u2019s role as a global trading and…<\/p>\n","protected":false},"author":1,"featured_media":33333,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[83],"tags":[],"thb-sponsors":[],"class_list":["post-33332","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bulletin"],"acf":[],"yoast_head":"\n