(NewsNation) — People planning on proposing to their significant others in the near future face a new obstacle — the rising price of diamonds.

India has been the largest distributor of diamonds to the U.S. for years, but the market has seen a massive hit following President Trump's April decision to impose new duties on imports from the country, part of his global rollout of tariffs.

“I have colleagues who had stuff coming in and missed the boat, and I mean literally the boat by a day, and got these huge tariffs because they were put into effect,” said Steven Grauer of Diamond District Partnership in New York City.

How the tariffs have impacted diamonds prices

Consumer prices for natural diamonds rose 2% to 4% following Trump's initial announcement of a tariff, according to Paul Zimins

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