Key facts
- The Antwerp diamond sector denied a link between a gifted ring and tariff exemption.
- A 321-diamond ring was gifted to U.S. President Donald Trump.
- Europe's diamond industry was exempted from new tariffs.
- Tariff discussions were separate from the ring's presentation.
- The U.S. Department of Commerce accused Chinese exporters of a scam.
- The scam is called the 'Great Transshipment Scam'.
- Chinese exporters allegedly mislabel products to evade tariffs.
- Goods are allegedly transshipped through third countries to avoid duties.
The Antwerp diamond sector has firmly rejected allegations suggesting a link between a 321-diamond ring presented to U.S. President Donald Trump and the exemption of Europe's diamond industry from new tariffs. Industry representatives clarified that discussions concerning tariff exemptions were conducted independently of the ring's presentation. The sector maintains that the decision to exempt diamonds from tariffs was based on separate trade negotiations and considerations, not influenced by the gift.