Jin10 data reported on April 5th that Surat, India, is the world’s largest diamond processing and polishing center, with the United States as its largest export market. Trump announced a 26% so-called “reciprocal tariff” on goods exported from India to the U.S., causing concern among practitioners in Surat’s diamond industry. Currently, the diamond business in Surat is at a standstill, with people watching for the potential impacts of the tariff policy. Practitioners indicated that some processors may be forced to cut production or even close down. Industry insiders pointed out that the U.S. government’s tariff increase will lead to a rise in diamond export prices, weakening demand. Data provided by the Surat Diamond Association shows that approximately 700,000 people are currently engaged in related work, while the U.S. “reciprocal tariff” policy threatens their livelihoods.
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