Senator Elizabeth Warren (D-Mass) on Tuesday accused Belgium's diamond industry of buying favor with President Donald Trump, citing a $1 million gold ring and a tariff exemption that followed weeks later.
Warren Demands Answers on Diamond Ring Gift to Trump, Calls It 'Cartoonish Corruption'
MarketDash
Sen. Elizabeth Warren is investigating a $1 million diamond-encrusted ring gifted to President Trump by Belgium's diamond industry, followed by a tariff exemption weeks later.
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A Ring, a Tariff Reversal, and 27 Days
Warren, in a post on X, said Belgium's diamond industry gifted Trump an 18-karat gold ring encrusted with 321 diamonds and 75 gemstones on June 28, presented to US Ambassador to Belgium Bill White at an America 250 celebration in Brussels.
Less than a month later, the Administration exempted European natural diamonds from new tariffs, restoring the zero-percent access Antwerp had lost back in February when the Supreme Court struck down Trump's original tariffs.
In a letter sent with Sen. Richard Blumenthal (D-CT) to Antwerp World Diamond Centre president Isidore Mörsel and jeweler David Gotlib, the senators said the sequence looks like "a cartoonish bribe," and noted the ring itself carries an interior engraving reading "Crafted in Antwerp for Donald John Trump."
The White House did not immediately respond to MarketDash's request for comment.
Gold Gifts Have Become a Pattern, Senators Say
The letter said Antwerp's ring was one entry in a broader pattern of executives giving gold-themed gifts ahead of favorable Trump Administration trade decisions.
It cites Apple Inc. (AAPL) CEO Tim Cook's gold-accented plaque preceding tariff relief on Chinese-made Apple products, Nvidia Corp. (NVDA) CEO Jensen Huang's $1 million seat at a Mar-a-Lago dinner before the Administration reversed course on blocking advanced chip sales to China, and a gold bar worth over $130,000 plus a luxury Rolex clock from Swiss executives shortly before Washington cut Swiss tariffs from 39% to 15%.
Last year, Warren called Trump "the most corrupt president in our nation's history," citing his memecoin venture and "multi-million dinners" with CEOs.
Senators Set August 24 Deadline
The senators requested detailed answers by Monday, August 24 on who at AWDC conceived of the ring, how it was funded, and what conversations occurred with Ambassador White's office before and after the ceremony.
They also questioned how much additional profit AWDC's member companies stand to gain from the restored tariff exemption.
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