US DEPARTMENT OF STATE CONSIDERING STRICT ORIGIN RULES FOR JEWELLERY TO SUPPLEMENT KIMBERLEY PROCESS

On 24th May, Arent Fox published an article saying that fashion accessory and luxury goods importers of fine and costume jewellery containing gemstones or precious metals (e.g. gold) should be aware of a proposal being considered by Department of State officials.  The officials recently met with trade organisations in New York to discuss requiring the jewellery industry to declare the country of origin for all materials used in jewellery products, an origin declaration requirement would be for all raw materials used in jewellery and, in addition, the new rules might require a chain of custody declaration (i.e. the movement from owner to owner).  It says that the new requirements were being considered because the Kimberley Process – the international certification scheme that regulates the diamond trade to prevent the sale of conflict diamonds – is inadequate.

https://www.internationallawoffice.com/Newsletters/International-Trade/USA/Arent-Fox-LLP/Department-of-State-considering-strict-origin-rules-for-jewellery

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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