Diamond industry in crisis as Trump tariffs rock market

World's diamond industry rocked as traders express Donald Trump tariff fears

Trading bosses warn that the industry has "ground to a halt" following the US President's sweeping tariffs.

Diamond industry in crisis as Trump tariffs rock market

Traders warn of ‘standstill’ as shipments through key hub of Antwerp drop 85 per cent

India diamond exports plunge

Sector affected by sluggish demand in US, China

The diamond exploded during processing, and it completely lost its value • The diamond suppliers decided to sue Employee Y. • A diamond explosion is an event that happens sometimes," explains an attorney representing the case, "but in this case the company had no insurance" • These are the employee's attempts to avoid a decision against him

Diamond Crisis: 85% Export Crash Signals Trouble for Your Engagement Ring

The diamond trade, long a symbol of luxury and enduring value, is facing an unprecedented crisis. At the heart of this turmoil lies Antwerp, Belgium, the global epicenter of diamond trading, where exports have plummeted by a staggering 85% due to sweeping U.S. tariffs. These levies, introduced in early 2025, have sent shockwaves through an industry already grappling with declining demand, competition from lab-grown gems, and geopolitical disrupt…

While the price of gold is skyrocketing, the diamond industry is lagging so badly as a direct consequence of the increasing uncertainty in the global economy.