On April 2, 2025, the US President introduced new tariffs that affect businesses around the world. The tariffs will impact jewellery retailers, wholesalers, exporters, and bullion traders in Saudi Arabia. This is because Saudi Arabia, along with other countries in the Middle East, will face a 10% customs duty on goods exported to the United States.
What Do Tariffs Mean for Jewellery Businesses?
Jewellery retailers, wholesalers, and exporters in Saudi Arabia need to review their business plans and understand the changes in trade policy. The new tariffs could increase the cost of goods, especially those imported to the US. These businesses may face higher expenses for products, such as gold, diamonds, and gemstones, which could affect their pricing and profit margins.
Steps to Take Now
Jewellery businesses in Saudi Arabia must act fast to deal with the changes brought by the new US tariffs. The first step is to review your supply chain. This means checking how these tariffs affect the goods you import, especially from countries that are now facing new or higher tariff rates. You should also consider finding other sources for your products. This can help reduce the extra cost you may now have to pay due to the new import duties. In some cases, you might have to raise the prices of your jewellery to cover the increased expenses. This will help you protect your profits and keep your business running smoothly during this uncertain time.
The Role of ERP in Handling Tariff Changes
Suntech Business Solutions’ SUNFACET ERP can play an important role in helping jewellery businesses handle the effects of the new tariffs. With an ERP system in place, businesses can easily track how the cost of imported goods has changed and adjust their inventory prices accordingly. It also helps them stay updated with international trade laws by keeping all import and export data and customs records in one place. This reduces the chance of missing any legal requirements. SUNFACET also makes daily operations smoother by automating the process of calculating tariffs. This saves time and lowers the risk of human errors.
Stay Updated with Changing Trade Policies Using SUNFACET ERP
As tariffs continue to change, so should your strategies. You need to keep a close eye on US trade policies and tariffs. By using real-time data and AI-powered data through ERP systems, you can stay updated and make better decisions quickly. Your ERP can also help you remain flexible by adapting to changing tariffs and trade policies, helping you continue growing your business despite external challenges.
Suntech Business Solutions knows the jewellery market well and understands the challenges facing jewellery businesses. Our SUNFACET ERP solution is designed specifically for the jewellery industry. It provides comprehensive tools for inventory management, financial planning, and compliance with international trade regulations. You can track the changes in costs due to tariffs and adjust your pricing models or business strategies without delay.
With the ongoing changes in the global trade landscape, the right tools are essential to staying updated. SUNFACET ERP can help your jewellery business stay compliant, simplify operations, and boost your profits despite rising tariffs.
Take Advantage of Free Trade Zones
Saudi Arabia has many free zones. These areas offer duty benefits. Jewellery businesses can use them to cut costs. SUNFACET ERP helps you manage goods between zones. It also helps with export documents and customs clearance.
The Path Forward
The new US tariffs will affect businesses in Saudi Arabia, particularly jewellery retailers, wholesalers, and exporters. It is essential to quickly evaluate the impact on your business and consider alternatives, like diversifying your suppliers, adjusting prices, and implementing better management systems. By using the right ERP system, you can maintain control over your inventory, costs, and compliance.
Do not wait for problems to grow. Let Suntech’s SUNFACET ERP help you handle new trade rules with ease. Contact our team in Saudi Arabia to learn more.
Phone: +971 55 220 1715
Email: info@suntech-global.com
Our Locations: UAE, KSA, India, Hong Kong
Visit Our Website: www.suntech-global.com
