IDEX Polished Price Index: Tariffs Push up Prices Slightly in April
May 05, 25
(IDEX Online) - The IDEX Polished Price Index closed the month up 0.58 per cent - after US President Donald Trump's tariff announcement on 2 April sent prices surging briefly for a couple of days.
But those gains were largely wiped out by a gradual decline over the rest of the month.
Trump announced a 90-day pause on reciprocal tariffs a week later, on 9 April.
If the tariffs are implemented, US importers would have to pay 26 per cent on goods from India - source of at least 90 per cent of all polished diamonds - which would inevitably lead to price hikes.
Indian goods were zero-rated before Trump's announcement. Despite the lifting of reciprocal tariffs, they are still subject to a 10 per cent tariff.
The slight uptick in April follows a slight fall (0.54 per cent) in March. In February it was stable (a marginal 0.02 per cent gain) and in January it fell 1.32 per cent.
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