US-China economic war will be beneficial for Indian Diamond- Gold ornament Import. US has imposed 7.5 percent of tax up on ornaments importing from Hong Kong since China has passed Hong Kong Security Act amidst of many oppositions
As per the US- Hong Kong Policy Act 1992, the tax was 3.3 percent. China has imported various products based on the Act hence Hong Kong developed as the No: 1 Diamond- gold ornament importing hub in Asia
Along with Hong Kong, India, France, Italy, China are the countries which are importing Diamond- Gold ornaments to USA. The recent policy of USA will definitely help India to raise its importing of Diamond – gold ornaments.
India, China and Hong Kong had imported diamond and gold ornaments of 9.47 Billion Dollar to USA in 2019
