Diamonds are forever? Not with tariffs in the way
1. Diamonds face a 10% import duty due to U.S. tariffs. 2. Luxury industry suffers from demand slowdown post-pandemic, impacting S&P 500. 3. Lab-grown diamonds are sold at 80% discounts; market dynamics are changing. 4. Mined diamond prices have fallen nearly 60% since March 2022. 5. De Beers shifts focus to natural diamonds amid tariff uncertainties.