On April 5th, Surat, India is the world’s largest diamond processing and polishing center, with the United States being its largest export market. Trump’s announcement of a so-called “equivalent tariff” of 26% on Indian exports to the United States has left diamond industry practitioners in Surat worried. At present, the diamond business in Surat is stagnant, and people are watching the possible impact of tariff policies. Practitioners suggest that some processors may be forced to reduce production or even shut down as a result. Industry insiders point out that the US government’s imposition of tariffs will lead to an increase in diamond export prices and weaken demand. According to data provided by the Surat Diamond Association, there are currently approximately 700000 people engaged in related work, and the US “reciprocal tariff” policy is threatening the livelihoods of these people. (CCTV Finance)
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