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Lithuania’s consul asks relief from 12.5% U.S. diamond tariff

By Drooid · Oct 22, 2026, 3:48 PM UTC · How we work

Summary

Story summary

Shai Schnitzer, Lithuania’s honorary consul in Israel, is seeking relief from the 12.5% U.S. tariff on Israeli diamond exports.
He launched a direct-to-consumer jewelry brand to modernize the family’s S. Schnitzer Diamonds business.
Since 2020, higher interest rates have lowered diamond prices and reduced dealer inventories, he says.
He notes lab-grown diamonds gained market share but can coexist with natural stones as separate products.

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Story summary

Shai Schnitzer, Lithuania’s honorary consul in Israel, is seeking relief from the 12.5% U.S. tariff on Israeli diamond exports.
He launched a direct-to-consumer jewelry brand to modernize the family’s S. Schnitzer Diamonds business.
Since 2020, higher interest rates have lowered diamond prices and reduced dealer inventories, he says.
He notes lab-grown diamonds gained market share but can coexist with natural stones as separate products.