(PRESS RELEASE) The American Gem Trade Association (AGTA) announced that the United States and the Kingdom of Thailand (Thailand) have reached a Framework for an Agreement on Reciprocal Trade. This important step strengthens bilateral economic relations and will provide exporters from both nations with unprecedented access to each other’s markets.
As highlighted in last week’s Roskin Gem News Report article, “How AGTA is Singlehandedly Saving the International Colored Gemstone Industry” , AGTA has made securing Reciprocal Trade Agreements with Thailand and across Asia a top strategic priority.
Does this mean tariffs on loose colored gemstones from Thailand have been reduced to zero? Not yet—but significant progress is underway. AGTA has formally petitioned the Office of the United States Trade Representative (USTR) to include loose colored precious and semi-precious gemstones from Thailand under Annex III of Executive Order 14346 (September 5, 2025), pertaining to Potential Tariff Adjustments for Aligned Partners (PTAAPs). This designation would establish a zero-percent reciprocal import tariff rate for qualifying gemstones entering the United States.
The implementation process and timeline are expected to follow the model of the recent U.S.–EU Reciprocal Trade Agreement, with a formal announcement to be published in the Federal Register once the agreement is finalized and PTAAP adjustments are confirmed.
We are optimistic that with Thailand and Vietnam—both key AGTA source countries—now advancing Reciprocal Trade Agreements, other important partners such as Sri Lanka will soon follow. AGTA’s Washington, D.C. team continues to work diligently with a number of additional gemstone-producing nations to expand these opportunities.
AGTA extends its sincere appreciation to President Trump, the Office of the U.S. Trade Representative, and the Departments of Commerce and Treasury for their continued support of American industries reliant on mineral resources not found domestically.
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We will keep our members and industry colleagues informed as additional details and timelines become available.
Honoring a Legacy: How Smith & Son Jewelers Exceeded Every Goal With Wilkerson
When Andrew Smith decided to close the Springfield, Massachusetts location of Smith & Son Jewelers, the decision came down to family. His father was retiring after 72 years in the business, and Andrew wanted to spend more time with his children and soon-to-arrive grandchildren.
For this fourth-generation jeweler whose great-grandfather founded the company in 1918, closing the 107-year-old Springfield location required the right partner. Smith chose Wilkerson, and the experience exceeded expectations from start to finish.
"Everything they told me was 100% true," Smith says. "The ease and use of all their tools was wonderful."
The consultants' knowledge and expertise proved invaluable. Smith and his father set their own financial goal, but Wilkerson proposed three more ambitious targets. "We thought we would never make it," Smith explains. "We were dead wrong. We hit our first goal, second goal and third goal. It was amazing."
Smith's recommendation is emphatic: "I would never be able to do what they did by myself."
