By Andrea Shalal
WASHINGTON, Aug 11 (Reuters) – Two Democratic senators are demanding answers from two Belgian firms about an 18-carat gold ring encrusted with 321 diamonds that was given to U.S. President Donald Trump weeks before the U.S. exempted Europe’s diamond industry from new tariffs.
Here are some details:
• In an August 10 letter to the Antwerp World Diamond Centre and David Gotlib Luxury Cufflinks, Senators Elizabeth Warren of Massachusetts and Richard Blumenthal of Connecticut warned that the gift raised serious legal questions under U.S. federal bribery law and could result in criminal penalties for the companies.
• “At best, your (gift to) … President Trump amidst high-stakes tariff decisions creates the glaring appearance of impropriety. At worst, it reinforces that foreign corporate special interests can … buy lucrative tariff exemptions simply by showering President Trump with shiny gifts,” they wrote in the letter.
• The senators said the ring, handcrafted by David Gotlib, was presented to the U.S. ambassador in Belgium by the president of the Antwerp World Diamond Centre on June 28 as a gift for Trump in honor of the 250th anniversary of the U.S.
• On July 24, the Trump administration officially exempted European natural diamonds from new Section 301 tariffs, restoring the Belgian diamond industry’s prior zero-percent tariff access.
• The senators asked the firms to respond to a series of questions by August 24, including the value of the ring, who paid for it, and any discussions about tariffs with the Trump administration before the exemption was announced.
• Media reports have put the value of the ring at $25,000 to $35,000.
• Republicans control both houses of Congress now, but Reuters reported last week that Democrats are developing a broad investigative strategy targeting companies and financial firms surrounding Trump if they return to power after congressional elections in November.
• The White House denied any favors to special interests. A spokesman said the decision to exempt the diamond industry from new tariffs merely upheld the Trump administration’s previous agreement to provide preferential treatment for diamonds under the U.S.-European Union trade deal signed in Scotland last July.
• An administration official said the diamond ring was federal property, and if the president wanted to keep it, he would have to pay the government market price for it.
(Reporting by Andrea Shalal; Editing by Mark Porter)
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