HUB 生产基地 38 | JNA May/June 2025 历年来，美国珠宝业屡经战争、经济衰退和疫情 等考验，但仍能展现强大的韧性。然而近来地 缘政治和宏观经济挑战不断，金价创下新高， 加上美国总统川普的关税措施正严重影响企业表现、消 费者信心和市场整体情绪，令头号珠宝市场的地位受到 考验。 总部位於华盛顿特区的国际研究智库“税务基金 会”(Tax Foundation)表示，截至4月10日为止，威胁征收 与反征收的关税已影响到3,300亿美元的美国出口。 该组织警告，如果全面实施这些关税，将使美国国内 生产总值减少0.2%。与此同时，美国征收的关税与其他 国家的报复性关税加起来，可能会使美国国内生产总值 减少1.0%。 德勤也指出，于短期内，关税可能会在不增加国内生 产的情况下提高通胀。价格上涨或会削弱明年的购买力 和消费支出增长。“最终关税框架本身并不清晰，这点也 令人担忧。这种不确定性开始拖累消费者和企业情绪。” 在艰难的时刻，美国珠宝制造商持谨慎乐观的态度， 并表示行业基础稳固。 美国经济分析局的数据显示，美国珠宝市场市值从 2023年的813.2亿美元,增长5%至2024年的854.1亿美元。 去年珠宝进口额达到227.5亿美元，比2023年的206.5亿 美元上升10.17%。出口额则从2023年的144.6亿美元下 跌5.74%至136.3亿美元。 美国珠宝商希望凭借强大的运营成效、先进的制造 技术,以及珠宝固有的魅力和价值，提升消费者的参与度 和联系。 Another obstacle are tit-for-tat tariffs, which could translate to higher prices for consumers. Christian explained that tariffs slapped on US exports make it more challenging for US companies to compete globally. Import duties, meanwhile, could result in higher material costs. The tariff scenario has added more unpredictability to the US market, according to Drogs. As a result, manufacturers are seeking to minimise tariff costs by onshoring a portion of their production while leveraging offshore rates for labour-intensive products. “Jewellery manufacturers can absorb some tariff costs in the short term, but not in the long term,” he added. “Eventually, consumers will see prices rise to cover the costs of import and export tariffs.” Over time, retaliatory tariffs could prompt some manufacturers to adjust their strategies to reduce or eliminate specific tariffs. Other industries, meanwhile, are relocating production back to the US or have initiated long-term plans to do so, continued Drogs. More than the tariffs though, soaring gold prices are an even bigger threat to the jewellery business, he added. Strength and relevance Bonaparte said the full extent of how tariffs could impact costs to consumers is yet to be determined but trade organisations such as Jewelers of America is seeking clarity to keep their members informed. “We are preparing comments and providing input to the Trump administration and USTR representatives to help guide our country’s trade policy toward holding our trading partners accountable and restoring fairness for American businesses,” he noted. “We feel that this can be accomplished without sowing uncertainty that could raise prices for American families.” Drogs agreed, adding that import tariffs make US manufacturing more globally dynamic in the short term. He added that onshoring could continue to grow as tariffs increase and expand. US manufacturers should continuously invest in technology to boost local and global competitiveness – something that Drogs' company adheres to. For his part, Christian said uncertainties such as tariffs are compelling companies to adapt and improve policies and operations. His company has invested heavily in automation and technology to stay ahead. “The whole industry is being pushed to modernise faster,” he stated. “For us, it is a chance to double down on innovation and efficiency, but not all jewellery companies have that flexibility.” Christian Tse has developed a new line of modular men’s engagement pieces using unconventional materials like Inconel, a nickel-chromium-based superalloy. The company is also integrating hot isostatic pressing into its platinum casting process, which Christian described as a “game changer” for durability and quality. Ultimately, having its manufacturing base in the US will always be a plus factor as it affords the company speed, control and the ability to work closely with its clients, especially luxury brands requiring precision and short lead times. “We are not waiting on overseas shipments or dealing with customs delays. Customers increasingly care about how and where things are made. Being US-based is not just about logistics — it is part of our identity and value proposition. It shows our standards and our commitment to doing things right,” remarked Christian.
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