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Feds May Crack Down on Product Sourcing from Abroad

Feds May Crack Down on Product Sourcing from Abroad

The US State Department may enact new regulations that would impact jewelry makers and sellers, according to National Jeweler, and it could be just the beginning.

The industry publication said sources told them of a meeting between regulators and a coalition of jewelers:

“According to those who attended the meeting, who asked not to be named, the department is looking to require a declaration of origin or provenance for every piece of finished jewelry or jewelry component imported into the United States, including precious metals, diamonds and all colored gemstones.”

Apparently the government did not want word to get out about the meeting, as sources did not wish to be named. National Jeweler said the Feds are looking to monitor other industries as well to look for ties to money laundering and terrorism.

The publication also warned its readers of measures to take with regard to sourcing and anti-money laundering protocols. If you import jewelry or jewelry components, take a look at the full article on NationalJeweler.com – and be on the lookout for regulations applying to other industries as well.

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Ina Steiner
Ina Steiner
Ina Steiner is co-founder and Editor of EcommerceBytes and has been reporting on ecommerce since 1999. She's a widely cited authority on marketplace selling and is author of "Turn eBay Data Into Dollars" (McGraw-Hill 2006). Her blog was featured in the book, "Blogging Heroes" (Wiley 2008). Follow her on Twitter at @ecommercebytes and send news tips to ina@ecommercebytes.com.

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