Thai gem and jewellery exports excluding gold rose 15.73% in June 2026 to US$881.29m, the fourth straight month of growth, led by markets such as Germany, Japan, Switzerland and the UAE. Exports to the US fell 7.87% after importers front-loaded earlier. GIT warns that the US Section 301 tariff of 12.5%, with some Thai items taxed, will weaken Thai exporters' price competitiveness against rivals. A weaker baht may help on price. Demand for premium and fancy-cut stones is holding up, while mid-market buyers may trim orders or switch to gold-plated and lower-karat jewellery. If you sell to the US, check your landed cost now.