💨 Abstract

The article primarily discusses the diamond trade in Surat, India, where most of the world's diamonds are cut and polished. This trade faces significant threats from U.S. tariffs and the increasing popularity of lab-grown diamonds. Despite informal business practices, the industry is complex and highly specialized. The biggest concerns are from U.S. President Donald Trump’s 10% tariffs on imports, including diamonds, and potentially even higher tariffs as negotiations take place.

Courtesy: WTOP Staff