Annual Rapaport Breakfast focuses on need for transparency and ethical sourcing.
Strong Gold Prices Dent Chow Tai Fook Revenue
Decline in sales narrowed over the second half of the fiscal year.
Things were much calmer in the global trade when World Federation of Diamond Bourses (WFDB) president Yoram Dvash sat down for an interview with Rapaport News on March 11. Dealers had just returned from a positive Hong Kong show. The European Union had recently delayed its traceability rules for enforcing Russia sanctions until January 2026. The rough and polished markets were showing signs of recovery.
That changed, however, on April 2, when US President Donald Trump announced tariffs on almost all imports, including diamonds and jewelry. The topics Dvash discussed with this reporter — the Russia sanctions, category marketing, arbitration — took a back seat. The only thing anyone was talking about was how the new customs duties would affect the industry.
“The issue of Russian sanctions has not disappeared, but the tariffs issue naturally is the focus of attention now…
Decline in sales narrowed over the second half of the fiscal year.
Organization is also joining forces with others in the industry to create a marketing fund for natural.
Country signs memorandum of understanding for future business.
Annual Rapaport Breakfast focuses on need for transparency and ethical sourcing.