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Diana Wierbicki, chair of the firm’s Art & Cultural Property practice, is featured in an article published by Apollo discussing the potential impact of trade policies under a second Trump administration on the global art market.
“The U.S. generally does not have customs duties on artworks and so those tariffs [during the first Trump presidency] did affect the market, specifically because of the breadth of the Chinese tariffs, which applied to any works originally made in China – even if they were not being exported from China.” She adds, “Therefore, there was an impact both on contemporary works exported from China to the U.S. on the primary market (direct from the artists) and also on Chinese works being exported from other jurisdictions to the U.S. on the secondary market.”
To read the full article, please visit Apollo’s website (subscription may be required).
“The U.S. generally does not have customs duties on artworks and so those tariffs [during the first Trump presidency] did affect the market, specifically because of the breadth of the Chinese tariffs, which applied to any works originally made in China – even if they were not being exported from China.” She adds, “Therefore, there was an impact both on contemporary works exported from China to the U.S. on the primary market (direct from the artists) and also on Chinese works being exported from other jurisdictions to the U.S. on the secondary market.”
To read the full article, please visit Apollo’s website (subscription may be required).
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Chair, Art & Cultural Property