HomeEconomyDiamond trading stops because...

Diamond trading stops because of Trump’s duties

Photo: Getty images

Trump’s large tariffs include a 10% gathering for diamond imports, though many other minerals are not included in the duties.

The diamond trade industry, the cost of which $ 82 billion, has stopped due to the tariffs of American president Donald Trump. In particular, the supply of diamonds through the trading center to precious stones in the Belgian city of Antwerp was reduced to about a seventh from the standard level. It reports about it Financial periods.

Trump’s large tariffs include 10% of the collection for diamond imports, though many other minerals, including gold and copper, are not included in the duties. Despite the fact that the White House has suspended tariffs within 90 days, the main 10% of the duties are valid.

According to the Renteters company, the sun -supplies of diamonds form only the seventh of the standard level.

According to analysts, the Global Trade War will hit the general demand for diamonds, which has slightly began to recover after many difficult years, and also created a major problem with the supply chain.

India, whose large polishing industry is processing more than 90% of the world’s diamonds can be specially influenced. The Indian export industry industry will suffer if the United States introduces a 27% tariff for Indian goods.

The only part of the diamond supply chain located in the United States is the process of certification under the threat.

Meanwhile, the world’s largest retail sells with Signet Jewlers’ diamonds informed its suppliers on April 4, not covering the costs associated with new tariffs.

The company will try to complete the delivery of orders to the United States as quickly as possible “with an accent for April and May.”

We remind you that China suggested that the EU be united against Trump. The total relationship with China’s trade and the EU forms more than one third of the world’s general trade.

China urged Trump to cancel duties and “fix errors”

News from CORRESPONDENT.NET On the telegram and whatsapp. Subscribe to our channels https://t.me/KorresPondentNet and WhatsApp

Source: korrespondent

- A word from our sponsors -

Most Popular

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More from Author

- A word from our sponsors -

Read Now

Everything you need to know about the Fantastic Four Robot

From origin to skills; Find out what you need to know about Herbie before seeing 'Fantastic Four: First Steps'With the official trailer of 'Fantastic Four: First Steps', new images of Herbie were presented, the intergalactic robot that will accompany the family of heroes in the mission of...

Meet the silver surfer of the new fantastic quartet

Learn more about Shalla-Bal, the new silver surfer, a character who was featured in the latest trailer for 'Fantastic Four: First Steps'This Thursday, 17, Marvel released the new trailer for “Fantastic Four: First Steps”, a work responsible for starting Marvel's 6th phase 6, presenting Pedro Pascal as...

240 BUSINESS Pils – The National Guard impressed the large storage

Defenders of Ukraine from the 14th Brigade of the National Guard of Ukraine “Red Kalina” today, April 17, gave a powerful shade of large-scale mechanized attacks of Russian invaders in the direction of Zovovsky. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px) {.in_text_content_22...

Protection forces were imprisoned 16 square meters. km during the application of the direction – Syrc

Russian invaders did not change their plans - to push the units of the Armed Forces of Ukraine outside the region of Donetsk and the Lugansk region and enter the administrative borders of these areas. .in_text_content_22 {width: 300px; Height: 600px; } @Media (min-width: 600px)...