[Jewelry making - Article 00178] - [Orchid] Jewelry manufacturing moving back to the U.S?

[Nanz Aalund]

========[ Invite a Friend - http://www.ganoksin.com/invite.htm  ]========

    To All: I received this press release via the Internet from a
    jewelry industry source. 

    June, 2007 - The Bush administration has withdrawn waivers granted to
    India and Thailand that allow both countries to export gold jewelry
    to the United States duty free. Unless Congress acts to restore the
    waivers, tariffs will be imposed beginning July 1. When the waivers
    were first received, tariffs were about 5.5 percent. The waivers
    have allowed both India and Thailand to benefit from duty-free
    treatment under the Generalized System of Preferences and as a result
    our industry suffered as jewelry manufacturing moved out of the U.S. 

    India is the No. 1 foreign source of jewelry on the U.S. market,
    exporting $2.4 billion worth in 2006. China is No. 2, with $1.1
    billion worth in 2006 and Thailand is the No. 3 exporter. Companies
    in these countries have already begun reducing their workforces as a
    result of projected lower exports to the U.S. This is a tremendous
    benefit to the U.S. jewelry manufacturing industry. Could this
    reverse the trend and manufacturing start moving back to the U.S.?
    Let's hope so - we are already seeing an up tick in our manufacturing
    supply segment and machinery. 

    It appears that U.S. jewelry manufacturers do not want to miss this
    opportunity and are starting to gear up early for increased sales
    that will result from less imports from India and Thailand. 

Nanz Aalund
Associate Editor / Art Jewelry magazine
21027 Crossroads Circle / Waukesha WI 53187-1612
262.796.8776 ext.228
____________________________________________________________________
T h e   O r c h i d   L i s t
Open Electronic Forum for Jewelry Manufacturing Methods and Procedures
____________________________________________________________________
Orchid FAQ:
~ http://www.ganoksin.com/orchid/faq.htm
Orchid Archives:
~ http://www.ganoksin.com/orchid/archive
Orchid Galleries:
~ http://www.ganoksin.com/orchid/gallery.htm
Invite a Friend:
~ http://www.ganoksin.com/invite.htm
____________________________________________________________________
Tips From The Jeweler's Bench - Article Archive
~ http://www.ganoksin.com/borisat/tip_sear.htm
The Jeweler's Selected Bibliography List
~ http://www.ganoksin.com/jewelry-books
Buy Orchid Jewelry:
~ http://www.ganoksin.com/shop
____________________________________________________________________
-Unsubscribe:
-Email: orchid-request AT ganoksin.com Body=unsubscribe subject=blank
____________________________________________________________________