This outcome brings considerable relief to Antwerp, a global hub for diamond trading, where the diamond sector represents a key pillar of economic activity. The United States is one of Belgium’s most crucial partners in this trade, accounting for nearly $3.9 billion in polished diamond transactions annually — roughly 16% of the nation’s total diamond trade.
The Antwerp World Diamond Centre (AWDC), which had actively opposed the proposed tariffs, warned that such a policy would have disproportionately harmed the Belgian diamond industry while yielding minimal economic or political leverage over the US. The organisation also highlighted the risks of administrative complications and shipment delays that could arise from stricter import checks if tariffs were implemented.
Due to the nature of the diamond trade, stones often move back and forth between Belgium and the US for services like certification at American grading labs. Had tariffs been imposed, the same diamond could have faced duties on both its US entry and its return to Europe, increasing costs and undermining trade efficiency.
Furthermore, the technicalities of origin-based tariff systems would have added another layer of complexity. Since most diamonds are not cut in the United States, only a small segment of actual trade would have been directly affected by tariffs. However, the need to verify the origin of every shipment would have introduced burdensome documentation and inspection procedures across the board.
The decision not to proceed with the tariffs is seen as a sign that EU policymakers understand the strategic importance of the diamond industry in Belgium and are committed to maintaining a stable and supportive trade environment. It also suggests a preference for practical, sector-specific policymaking in ongoing international trade discussions.
For Antwerp and its diamond stakeholders, the outcome offers both immediate reassurance and a longer-term indication of European support for free trade and economic stability in one of Belgium’s most vital sectors.
