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India’s Jewellery Exports Face Steep Decline Amid U.S. Tariffs
Customers check diamond necklaces and earrings during a jewelry exhibition in Srinagar, Jammu and Kashmir, on April 12, 2025. India's $32 billion gems and jewelry industry braces for a sharp decline in exports, as hefty U.S. tariffs are expected to hinder overseas sales to its largest market, industry officials say. However, the U.S. announces a 90-day suspension of the additional tariffs on India, effective until July 9 this year, according to a White House executive order. On April 2, U.S. President Donald Trump imposes universal duties on goods from about 60 countries, along with additional steep levies targeting nations such as India. In response to the U.S. tariffs, China retaliates by increasing duties on American goods from 84% to 125% as part of its latest round of measures, further escalating trade tensions between the two economic giants. (Photo by Firdous Nazir/NurPhoto)
Photo Details
| Photo ID | #12254848 |
|---|---|
| Date Taken | |
| Location | N/A |
| Photographer | Firdous Nazir/NurPhoto |
| Category | Economy, Business and Finance |
| Copyright | © 2026 NurPhoto - Firdous Nazir/NurPhoto |
Related Keywords
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Srinagar
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White House executive order
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India
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Firdous Nazir
NurPhoto
April 12
2025
$32 billion industry
July 9
2025
April 2
2025
60 countries
84% to 125%
measures escalation
2026 NurPhoto. All rights reserved.
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