On a recent episode of the Rapaport Diamond Podcast, AGTA leaders John Ford and Bruce Bridges discussed their strategic efforts to secure tariff relief for the gemstone and diamond industries following high-level meetings with U.S. lawmakers. They detailed the industry's success in getting precious stones and natural pearls included in Annex III, while explaining the complex process of securing specific trade agreements required to reach a 0% duty rate for key partner nations. While current priorities for these exemptions include major markets like India, Thailand, and Sri Lanka, the organization is also lobbying for global exemptions and expanding its focus to include countries such as Israel, Japan, and Australia. Ahead of the AGTA GemFair in Tucson, the pair also assessed the current health of the gemstone market, noting that the colored stone sector has remained more resilient against the rise of synthetic alternatives than the diamond industry.
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