Trump Cuts Tariffs on Indian Gems, Jewelry: Gold Prices to See Major Turnaround?
Money
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News18•03-02-2026, 14:01
Trump Cuts Tariffs on Indian Gems, Jewelry: Gold Prices to See Major Turnaround?
- •US President Donald Trump reduced tariffs on Indian gems and jewelry exports from 50% to 18% after discussions with PM Narendra Modi.
- •This tariff cut is a significant relief for India's gems and jewelry industry, as the US is its largest export market.
- •India's gems and jewelry sector exports approximately $10 billion annually to the US, with diamonds accounting for $7-8 billion.
- •Exports to the US had declined by 44.42% during April-December 2025 due to previous high tariffs.
- •Experts believe the duty reduction could lead to a decrease in gold prices and boost the gems and jewelry sector.
Why It Matters: Trump's tariff cut on Indian gems and jewelry exports could lower gold prices and revive the industry.
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