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Diamond City stares at gloomy paydays amid Donald Trump tariff cloud

Following the double tariff whammy in August, the average effective American levy on gems and jewellery has climbed to 55%

India diamonds, Diamond industry, Donald Trump, Trump tariffs, Trade tariffs
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Operators of polishing units are charting cost-cutting plans after Diwali, battered by a collapse of more than 40% in demand since the US slapped 50% tariffs | Photo: Ajinkya Kawale

Ajinkya Kawale Surat

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In Surat, 37-year-old Anant Patel currently earns more in a single day ferrying passengers in his cab through the city’s tangled traffic than others do shaping diamonds, once considered too exorbitant.
 
Patel knows the grind of diamond polishing well — he once sat hunched over a table under harsh lights, coaxing brilliance from rough stones. But he counts himself lucky for having walked away years ago. Now, as the weight of high US tariffs bears down on India’s diamond capital, the future of the trade looks clouded.
 
His peers remain in the storm’s eye, facing uncertainty over pay as demand