Connect with us

Headlines

JVC Advises Industry on Trump’s 90-Day Tariff Pause, 125% Duties on China

New 31% tariff on Swiss imports and 10% baseline tariff reshape trade dynamics amid global economic concerns.

mm

Published

on

The Jewelers Vigilance Committee, a key trade association serving the industry, on Wednesday issued an alert following President Trump’s announcement of a 90-day pause on tariffs for most countries, reducing rates to a universal 10%. China, however, will face a sharp increase to 125% amid escalating trade tensions.

Read the alert:

This morning (April 9) at 12:01am, the United States implemented President Trump’s sweeping tariffs, imposing double-digit rates on dozens of countries, including more than 100% tariff rates on China. Approximately 13 hours later, President Trump announced he would pause his escalated reciprocal tariffs and lower them to a universal 10% for most countries for the next 90 days.

Note that this does not include China; President Trump announced that he would raise tariffs on Chinese imports to a baseline 125% in retaliation for China’s implementation of retaliatory tariffs.

At this time, the White House has confirmed that the universal 10% tariff does apply to both Canada and Mexico, but we are awaiting clarification as to (1) whether this is in addition to the prior 25% fentanyl-and-border related tariff rates, and; (2) the whether the USMCA exemption for goods still applies. We will continue to work to find answers as quickly as possible.

As welcome as this pause is, JVC cautions members that it is only a pause and the administration’s strategy is still not solidified. JVC continues to encourage members to work closely with their customs brokers and/or customs attorneys to evaluate their options as this situation develops.

Advertisement
Advertisement

SPONSORED VIDEO

Family Legacy, New Chapter: How Wilkerson Turns 89 Years of History Into Future Success

After 89 years of serving the Albany community, Harold Finkle Your Jeweler faced a pivotal decision. For third-generation owner Justin Finkle, the demanding hours of running a small business were taking precious time away from his young family. "After 23 years, I decided this was the time for me," Finkle explains. But closing a business with nearly nine decades of inventory and customer relationships isn't something easily managed alone. Wilkerson's comprehensive approach transformed this challenging transition into a remarkable success story. Their strategic planning handled everything from advertising and social media to inventory management and staffing — elements that would overwhelm most jewelers attempting to navigate a closing sale independently. The results speak volumes. "Wilkerson gave us three different tiers of potential goals," Finkle notes. "We've reached that third tier, that highest goal already, and we still have two weeks left of the sale." The partnership didn't just meet financial objectives—it exceeded them ahead of schedule.

Promoted Headlines

Advertisement

Advertisement

Subscribe


BULLETINS

INSTORE helps you become a better jeweler
with the biggest daily news headlines and useful tips.
(Mailed 5x per week.)

Latest Comments

Most Popular