JA Lobbies Congress over Tariff Disruption

(IDEX Online) - Jewelers of America (JA), the national trade association, has lobbied Congress over the tariffs that are disrupting business for its members.

The JA delegation told Congress members that reciprocal tariffs imposed by the Trump administration were shrinking their already-tight margins, and they were being forced to pass on the extra costs to customers.

"Right now, it's an all-hands-on-deck situation in dealing with the tariffs, which have strained and caused major disruptions to the global supply chain," said JA president and CEO David Bonaparte (pictured) after the Capitol Hill meetings earlier this month.

"The majority of retailers and manufacturers in the U.S. are dependent on diamonds and gemstones that cannot be sourced in the U.S."

The Trump administration has announced potential exemptions for diamonds, gemstones and pearls, but only for countries that reach unilateral trade agreements with the U.S.

Tariffs on exports from India are currently 50 per cent. Swiss watch tariffs are 39 per cent.

The JA group also highlighted the threat of organized retail crime to jewelry businesses.