The Government of the Republic of Botswana, along with industry giants De Beers and Anglo American, have publicly endorsed a statement by the World Diamond Council advocating for a universal exemption on tariffs applied to natural diamonds, whether rough or polished. Signaling unified industry support for freer trade in the global diamond market.
The Minister of Minerals and Energy, Bogolo Kenewendo, announced this following a courtesy call paid to President Duma Boko by Anglo American CEO ,Duncan Wanblad, De Beers Group CEO ,Al Cook, and Anglo American Group Head of Portfolio ,Craig Fish recently.
“Diamonds have impacted the lives of Batswana in immeasurable ways, and we need to continue marketing them as such.” Said Minister Kenewendo, she continued that the diamond provenance story of Botswana, which covers the origin of the diamond, is crucial for potential customers when it comes to understanding responsible and ethical diamond sourcing, tracing diamonds through the supply chain, and offering consumers assurance about where their diamonds come from.
The World Diamond Council (WDC), the U.S.-based organization representing the international natural diamond value chain, noted that it acknowledges the U.S. government’s emphasis on fair and reciprocal trade and advocates for policies that support strengthening American manufacturing to deliver tangible benefits to U.S. businesses, workers, and consumers.
However, they urged the American administration “to consider granting a targeted exemption for natural diamonds (HS Codes 7102.10 and 7102.31) from proposed tariffs and to include them on the Annex II list.”
Adding that “Natural diamonds are not produced in the United States but are vital to the health of the American jewelry industry, an essential contributor to the national economy.”
Recently in America, Vice President of Botswana and Finance Minister Ndaba Gaolathe echoed the same sentiments, saying American tariffs on diamond imports would backfire.
“The US does not have diamonds,” he said.“But the US has been able to create an entire diamond sector, a jewelry sector. It’s large; it creates jobs for Americans. So the US has benefited from Botswana diamonds, and a sudden pushback on Botswana diamonds will and can hurt the US more than it imagines.”
BWPresidency
