Rising Diamond Prices Threaten to Break Proposal Budgets

Skyrocketing diamond prices are putting extra pressure on couples planning proposals. Following President Trump’s decision to impose steep tariffs on imports from India—the world’s largest supplier of polished diamonds—costs have surged across the U.S. Industry experts say natural diamond prices are up as much as 10% this year, with engagement rings now averaging more than $7,100. With tariffs recently raised to 50%, many jewelers warn that India’s diamond exports could collapse, leaving American consumers facing even higher costs for one of life’s biggest purchases.