Antwerp’s diamond industry is breathing a sigh of relief after the Trump administration confirmed that diamonds exported from the European Union will be exempt from US import tariffs.
The decision makes Antwerp the only global diamond trading hub with tariff-free access to the American market, a major boost for the Belgian city, long regarded as the world’s diamond capital.
For months, uncertainty had clouded the sector after US President Donald Trump threatened to impose a 15% import duty on diamonds, sparking concerns among Belgian diamantaires.
But an executive order, retroactive from 1 September, now grants waivers to EU exports under “Annex II,” covering not only diamonds but also metals, pharmaceuticals, and chemicals.
“This is a major breakthrough,” said Karen Rentmeesters, CEO of the Antwerp World Diamond Centre (AWDC). “Our American partners have realised they cannot deliver or cut diamonds themselves, hence the exception.”
The exemption means diamonds polished in Antwerp can enter the US at 0% duty instead of the previously announced 15% tariff. While rough diamonds are also listed, the EU does not produce them, making the measure largely symbolic.
Rentmeesters stressed the importance of the decision, noting that Belgium exports over $2.1 billion worth of diamonds to the US every year. “This is a tremendous boost for Antwerp’s polishing sector and gives our cutters an opportunity to thrive again,” she said.
Unlike many commodities, the US does not have domestic diamond mines or significant polishing facilities, making it heavily reliant on imports. With America being the largest consumer market for polished diamonds, the ruling cements Antwerp’s competitive advantage.
Industry stakeholders, along with the Belgian Government and the European Commission, played a vital role in lobbying for the exemption. “This collaborative effort has truly paid off,” Rentmeesters added.
The breakthrough could also reshape global trade. Rentmeesters said the decision sets a precedent that other diamond-producing nations, such as India, Botswana, and Angola, may push to replicate. “A universal 0% tariff on diamonds is the ultimate goal,” she said.
For now, Antwerp enjoys a clear advantage over its competitors. India, one of the biggest players in the sector, still faces a 50% US import tariff, making Belgian stones far more attractive for American buyers.
With about 350 diamond cutters still active in Antwerp, the decision is expected to revitalise Belgium’s traditional craft and bolster its position as the centre of global diamond trade.
“This gives us the opportunity to revitalise our diamond cutting activities,” Rentmeesters concluded. “It strengthens Antwerp’s role not only as a trade hub but also as a true diamond powerhouse.”
This article was created using automation technology and was thoroughly edited and fact-checked by one of our editorial staff members
