1. What is the impact of the new Trump tariffs on art?
The global art market is currently facing the effects of the new tariffs imposed by the United States. The situation remains volatile and ever-changing, but here’s what we know:
Exemption for now: Artworks are currently exempt from tariffs. However, this exemption may not last if the trade war escalates.
General tariffs: The United States has imposed a 10% tariff on all imported products, with higher tariffs of 20% on goods from the European Union.
2. What is the impact of tariffs on the demand for art?
Tariffs can undermine consumer confidence and slow down the economy. As we saw after the 2008 financial crisis, economic uncertainty typically leads to reduced demand for artworks.
Fewer buyers, fewer sales.
3. What measures are being taken by Artsper?
At Artsper, we are committed to supporting our artists and collectors during this challenging period:
Continuous updates: We will keep you informed of any changes related to the tariffs.
Customs and shipping assistance: We will help you navigate customs and shipping procedures.
Platform adaptation: If the situation becomes more complicated, we will adapt our services to support your sales.
4. What should I do if I am an artist or collector in the United States?
Check with carriers and customs services: We encourage you to check for any additional fees that may be applied to your shipments.
Stay updated: We will closely monitor the tariff situation and provide you with updated information to help you plan your art purchases or sales.
5. Can I still buy or sell artworks during this period?
Yes, while tariffs and economic uncertainties may affect transactions, it is still possible to continue buying and selling artworks through Artsper. We remain at your disposal to help you navigate these new conditions.
For any questions regarding imports to the United States, please refer to the U.S. Customs and Border Protection website.
For imports to the European Union, you can consult the European Commission's website.
For the United Kingdom, please refer to the UK Government website.
For questions regarding imports from Hong Kong, you can consult the Hong Kong Customs and Excise Department website.
For other destination countries, please refer to your local country's customs website for further details.