Photo by Jon Tyson on Unsplash
In April 2025, President Donald Trump introduced a series of tariffs aimed at addressing trade imbalances (although he often refers to them as trade barriers), which may significantly impact the art market and US-based art collectors. These tariffs include a minimum 10% duty on all imports, with higher rates for specific countries, such as a 34% tariff on Chinese imports and a 20% tariff on imports from the European Union.
Artworks, traditionally exempt from import duties, may now be subject to these tariffs, leading to increased acquisition costs for collectors and institutions. For example, a European painting valued at $100,000 would incur an additional $20,000 in duties under the new policy. This escalation in costs may deter collectors from purchasing international art, potentially reducing the diversity and vibrancy of art collections within the United States.
However, there may still be some hope on the near horizon: it is hoped that the US Federal Register will provide an exemption to prints and original paintings under Chapter 49 for prints and Chapter 97 for original paintings. We all wait to see if this possible exemption will be codified. Until such time, utmost caution must be observed by both Andipa and its USA art collectors.
Challenges for Art Collectors and Institutions
The financial burden of these tariffs could extend beyond private collectors to museums and galleries that rely on international acquisitions and loans. Institutions may face higher expenses when importing artworks for exhibitions or permanent collections, which could lead to increased ticket prices or a reduction in the number of international exhibitions offered to the public. Additionally, the uncertainty surrounding the duration and scope of these tariffs complicates financial planning and budgeting for future acquisitions and exhibitions.
Effect on Art Fairs and International Exhibitions
Art fairs, which are pivotal events for galleries and collectors, may also be affected. Galleries participating in US-based fairs may now face higher costs when bringing in artworks from abroad, potentially leading to increased prices for buyers or reduced participation from international galleries. This could diminish the global nature of such events and limit the exposure of collectors to diverse artworks. Conversely, US galleries attending international fairs may encounter retaliatory tariffs, further complicating cross-border art transactions.
Broader Economic Implications
Perhaps more importantly and immediate, the tariffs contribute to a broader climate of economic uncertainty, influencing collector confidence and market dynamics. Fluctuations in currency exchange rates and the potential for retaliatory measures from other countries may further impact the art market. Collectors might adopt a more cautious approach of “wait and see” and put their international purchases on hold.
Further reading, articles and information:
What Collectors Need To Know about Trump’s Tariffs (article by Artsy): https://www.artsy.net/article/artsy-editorial-art-collectors-trumps-tariffs
Trump Tariffs (article by The Art Newspaper): https://www.theartnewspaper.com/2025/02/07/trump-tariffs-zona-maco-mexico-india-art-fair-american-photography-rijksmuseum-podcast?utm_source=chatgpt.com
How Trump’s New Reciprocal Tariffs Will Hurt the Art Industry (article on ArtNews): https://www.artnews.com/art-news/news/president-trump-new-reciprocal-tariffs-hurt-art-industry-1234737714/
For further advise please reach out to our director, Mr Acoris Andipa on +44 207 581 1244 or sales@andipa.com