Diamond ring for Trump, tariff exemption for Antwerp — a look at the new exclusion list

A diamond ring designed for US President Donald Trump by the Antwerp World Diamond Centre (AWDC). [AP]

Europe's diamond industry breathed a sigh of relief Saturday as US President Donald Trump announced a new round of global tariffs that once again left diamonds off the list.

The exemption came after months of lobbying by the diamond industry in Antwerp, Belgium — the world's leading diamond trading hub — following negotiations with the EU last year, The New York Times reported Thursday. The timing has drawn particular attention, coming shortly after a specially commissioned gift was delivered to Trump.

US President Donald Trump listens to remarks at an event at the White House in Washington on Thursday. [AP]

Weeks ago, the Antwerp World Diamond Centre (AWDC), which handles roughly half of the world's diamonds, unveiled a specially crafted ring for Trump to mark the 250th anniversary of American independence. The 18-karat gold ring is set with 321 diamonds and dozens of sapphires, emeralds and rubies.

The US ambassador to Belgium displays the Antwerp-made ring crafted for US President Donald Trump at a ceremony in Brussels marking the 250th anniversary of American independence. [AP]

The ring features a large diamond-encrusted letter "T" on each side, along with the numbers "45" and "47" — representing Trump's two presidential terms — surrounded by diamonds in the style of the Superman logo. An inscription on the inside reads: "Crafted in Antwerp for Donald John Trump."

In a video message at the Brussels ceremony marking the US anniversary, Trump said he was "especially grateful to our friends in Antwerp for the beautiful 'Freedom 250' ring."

The new tariffs target more than 80 countries that the United States has determined are not adequately enforcing laws banning imports made with forced labor. Rates range from 10 to 12.5 percent. The exemption list, however, is significantly broader than in previous rounds — covering oil and natural gas, copper, semiconductor manufacturing equipment, chemicals and diamonds, among others.

No evidence has emerged that the ring gift directly influenced the diamond industry's tariff exemption, but critics say the criteria used to determine the new exclusion list lack transparency.

White House spokesperson Kush Desai said the diamond exemption reflected the implementation of a trade agreement reached with the EU last year. "The administration is simply continuing to honor that agreement," he said, adding that "the only special interest that moves the Trump administration is the interest of the American people."

The new exemption list also reinstates many carve-outs the Supreme Court struck down last year, including goods covered by free trade agreements with Mexico, Canada and Central America, as well as beef, coffee, bananas and tomatoes. Items deemed essential to US strategic industries — such as semiconductor manufacturing equipment and data center hardware — were also exempted.

Trade experts pointed to what they called the biggest contradiction in the new tariffs: many goods with well-documented forced-labor concerns were granted exemptions. The US Department of Labor publishes an annual list of goods produced using forced or child labor — including textiles, coffee, gold, cocoa, Brazil nuts and minerals — yet a significant number of those items were excluded from the new tariffs.

Paprika is a prime example. A significant share of paprika in circulation has been found to originate from China's Xinjiang region. The United States bans imports of Xinjiang-made goods over forced-labor concerns, and Chenguang Biotech, the world's largest paprika manufacturer, was placed on a forced-labor entity list in 2023.

Diamonds are also among the goods the US administration monitors for forced-labor risks. Human rights groups argue that some problematic diamonds continue to circulate in the market.

Meanwhile, the diamond ring gifted to Trump remains at the residence of the US ambassador to Belgium. The White House said that once the ring is formally received, it will be transferred to the National Archives, after which Trump may purchase it personally if he wishes.

mokiya@heraldcorp.com