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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.

Published

1 month ago

April 9, 2025

INSTORE Staff

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.

Related Topics: Jewelers Vigilance Committee (JVC)JVC Latest News Top

INSTORE Staff

Since launching in 2002, INSTORE has won 89 international journalism awards for its publication and website. Contact INSTORE's editors at editor@instoremag.com.

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