Undertaking European diamonds from US customs duties
Brussels, September 25/ WAM/ The International Diamond Center in Antwerp (AWDC), the umbrella that represents the diamond sector in the Belgian city, announced its success in obtaining a complete exemption from customs duties on the imports of the brushed natural diamonds to the United States of America, according to a new trade agreement between the European Commission and Washington, according to a press release issued yesterday, Wednesday, where the center described this result as the result of intensive negotiations.
This exemption comes within a new American decree, which is retroactively applied from the first of September, and it gives commercial partners chosen customs exemptions on industrial exports that include nickel, gold, other minerals, medicines and chemicals.
According to the decision, European diamonds, such as polished diamonds in Antwerp, will not be subject to the 15%standard tariff, but will be completely exempted, which the center considered “a big boost for the diamond sector in Antwerp and the local pieces industry”, with the expectation that this will be reflected globally by providing similar opportunities for other countries working in the field of diamonds.
The World Diamond Center emphasized the importance of the American market, explaining that Antwerp’s annual exports from diamonds to the United States are $ 2.1 billion, which makes it a pivotal commercial partner.
“We have focused strongly on this file because it is very important and enhances our competitiveness as a global center for trade and cutting.”
She praised the cooperation between the partners of the sector, the Belgian government and the European Commission, noting that they succeeded in clarifying that imposing customs duties by 15% will not serve the American jewelry market, but will harm consumers in the first place, especially since the United States does not have active diamond mines or a real industry for local pieces, which means that there is no local industry that needs customs protection.
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