Summary
This advertisment looks like a marketing tectics and promotion from Tiffany's. US govt. wants to stop all the type of earning sources from Myanmar Govt.
Analysis
This bill requires that within 60 days of enactment, jadeite or rubies of Burma (Myanmar) origin cannot be imported into the U.S. This importation ban would encompass all Burmese origin jadeite and rubies, notwithstanding “substantial transformation” in Thailand or elsewhere.
The importation ban does not apply to any Burmese rubies or jadeite that were previously (before the enactment of the ban) exported from the U.S. when they are re-imported into the U.S. by the same person, without having been improved in condition or value while outside the U.S. Customs is still determining whether or not this exemption would apply to cut and polished rubies that are exported from the U.S., placed into jewelry and then re-imported. This is where Tiffany's role is improtant and will get benefitted by this clause.
The importation ban does not apply to Burmese jadeite or rubies that are imported for personal use. The law does not apply to exports of Burmese rubies or jadeite from the U.S.
Further, the bill does not address U.S. sales of any inventory of Burmese jadeite or rubies currently in the U.S.
Non-Burmese rough and polished jadeite and rubies (or jewelry containing jadeite and rubies) may be imported from other countries under certain conditions. These imports require the president to "determine and certify” to the appropriate government agencies that those countries have implemented verifiable controls from mine to first exportation that demonstrate that they do not originate in Burma. These non-Burmese shipments must be accompanied by officially-validated documentation certifying the country from which the jadeite and rubies were mined or extracted, total carat weight, and value of the jadeite or rubies. All entities importing non-Burmese jadeite and rubies are required to maintain verifiable records demonstrating compliance with these requirements.
The bill goes on to express the “sense of Congress” that the president should take the necessary steps to seek to negotiate in international agreement similar to the Kimberley Process Certification Scheme for diamonds to prevent the trade in Burmese jadeite and rubies.
Tiffany and other Jewelers who applauds Congress will get a direct benifit with it and this also reduse thier compitition as Myanmar Rubies and Jade are the best one in the World.
