Two American senators, both from the Democratic Party, are seeking clarification from two Belgian companies regarding an 18-karat gold ring, adorned with 321 diamonds, gifted to U.S. President Donald Trump weeks before the U.S. exempted the European diamond industry from new tariffs, as reported by Reuters on Tuesday.
In a letter dated August 10, addressed to the Antwerp World Diamond Centre and David Gotlib Luxury Cufflinks, Senators Elizabeth Warren of Massachusetts and Richard Blumenthal of Connecticut expressed concerns that this gift raises significant legal issues under U.S. federal bribery laws and could attract criminal penalties for the two companies.
“At best, your gift to President Trump, in light of high-stakes tariff decisions, creates a blatant appearance of impropriety. At worst, it reinforces the notion that foreign corporate special interests can… simply overwhelm President Trump with shiny gifts to purchase favorable tax exemptions,” they wrote in their letter.
The senators noted that the handmade ring, crafted by David Gotlib, was presented to the U.S. ambassador to Belgium by the president of the Antwerp World Diamond Centre on June 28, coinciding with the day the U.S. celebrated 250 years of independence.
Just days prior, on July 24, the Trump administration officially exempted natural European diamonds from the new tariffs established under Section 301, a decision that restored the Belgian diamond industry’s access to the previous zero percent tariff rate.
The senators requested the two companies respond to a series of questions by August 24, including the ring’s value, who financed it, and any discussions about tariffs with the Trump administration prior to the tariff exemption announcement.
According to reports, the ring’s value ranges between $25,000 and $35,000.
Republicans currently control both chambers of Congress. Last week, Reuters reported that Democrats are developing an extensive investigative strategy targeting companies and financial firms associated with Trump if they regain power following the upcoming midterm elections in November.
The White House has denied granting any favors to special interest groups. A spokesperson stated that the decision to exempt the diamond industry from the new tariffs merely honored a previous agreement by the Trump administration to provide preferential treatment to diamonds within the trade agreement between the U.S. and the European Union, signed in Scotland last July.
A Republican administration official asserted that the diamond ring is federal property and that if the president wishes to keep it, he must pay the government its market value.
