By David Brough
GENEVA – GemGenève co-founder Thomas Faerber called U.S. tariffs regrettable as gem and jewellery participants adapted to an evolving trade regime.
“It (tariffs) is regrettable, in my opinion, because we like a free world — especially in Switzerland, we like an open world,” Mr Faerber, head of the Faerber Collection, dealers specializing in exceptional gemstones and antique jewellery, told a news conference.
Dealers gathered in Geneva for the May 8-11, 2025, ninth edition of GemGenève, grappling with the challenges of implementation of U.S. tariffs, potentially complicating sales to the United States.
Mr Faerber downplayed concerns to the high jewellery business relating to soaring and volatile gold prices, noting that value was driven more by the design, period, and possible premiums for signed jewellery items.
Ronny Totah, another co-founder of GemGenève, said the high jewellery trade had experienced “a certain panic” when confronted with the prospect of U.S. tariffs, but many participants were now resigned to shifts in the trade regime.
The United States is an extremely important market for high jewellery and gemstones, he added.
GemGenève news conference on May 7, 2025
