The Momentary - Bentonville, Arkansas - Feb 22, 2020

U.S. Adds Chinese Art and Antiques to Proposed 25 Percent Tariff List

  • May 23, 2019 16:25

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Imperial Red Lacquer 'Nine Dragon Throne,' Qianlong period (1736-1795), from a private Asian collection, that sold at Christie's London this month for £6.1m (US$7.8m), 6.5 times its estimate.
Christie's

As the Trump administration escalates its trade war with China, Chinese art and antiques could be subjected to a 25% import tax along with $200-billion worth of Chinese-made goods in a new 194-page tariff list.

Last August, arts industry representatives in Washington successfully removed Chinese art and antiques from the list of items subject to a 10% import tax, arguing that the tariff would damage the trade by raising prices of such collectibles within the U.S., while strengthening the market inside China.

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The threat has now re-emerged with Chinese-made art supplies, artifacts, paintings, drawings, sculpture and antiques, including those "exceeding 100 years" in age, facing steep levies of now 25%, regardless of their point of origin.

Notes Antiques Trade Gazettea lawyer for the art trade who successfully argued against the tax last summer, Peter Tompa, will be back on the case when the US International Trade Commission has a hearing in Washington, DC, on June 17. Tompa is now encouraging the art and antiques community "to get energized to oppose tariffs on art again," with public comments against the import tax on cultural items.

Read more at Gazette


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