
On April 2nd, U.S. President Donald Trump announced sweeping “reciprocal” tariffs on all goods imported to the U.S., which came into effect on April 9th before being paused for 90 days (with the exception of those on China) just hours later.
Long a part of Trump’s economic agenda, tariffs are taxes imposed on imported goods and are viewed by the president as a key part of growing the U.S.’s domestic economy.
In March, Trump proposed an initial series of tariffs on goods imported from selected countries. The announcement on April 2nd, however, was much more far-reaching: In addition to a sweeping 10% “baseline” tariff on all imported goods, the American president imposed additional, higher rates of up to 50% for more than 60 countries, including Vietnam (46%), India (26%), the U.K. (10%), and South Korea (25%). And the E.U. is subject to an additional 20% rate.
On April 9th, as countries affected by the tariffs scrambled to negotiate with the administration, Trump announced a 90-day pause for those affected by increased rates. What remains is a baseline 10% rate on all imports to the U.S., with the exception of those from China. Following retaliation to the initial tariffs, an escalating trade war means Chinese goods entering the U.S. will be tariffed at 125% (as of April 10th) after China raised its own retaliatory tariffs to 84%.
While the 10% baseline tariffs remain in place, the progress of negotiations between the U.S. and its trading partners will be watched closely over the next 90 days. These tariffs—and the uncertainty around their implementation—have already led to consequences and confusion for a range of industries, including the art market. While this temporary reprieve offers some relief, it’s unlikely to end the uncertainty.
Most important for the art industry is if, and how, artworks are affected. Here, we break down the current understanding of the position of artworks within these trade policies.
Is art affected by Trump’s tariffs?

Bubble Wrap, 2013
Elena Sisto
Bookstein Projects
Among art professionals and lawyers, the current understanding is that artworks are likely to be exempt from tariffs, though there is substantial confusion around the issue.
The main reason for this reading is that, according to a fact sheet issued by the White House on April 2nd, articles listed in 50 USC 1702 will “not be subject to reciprocal tariffs.” These include—but aren’t limited to—“artworks,” “photographs,” and “posters.”
What is meant by an “artwork”? The experts Artsy spoke to cited the definition in the Harmonized Tariff Schedule (HTS), which includes clear codes for traditional forms of art such as paintings, drawings, engravings, and sculptures.
It’s not clear, however, if those provisions apply to this new wave of measures. “While artworks have historically been exempt, recent executive orders and the legislation used to implement them have introduced uncertainty around whether that exemption still applies,” said Paul Donovan, chief economist at UBS Global Wealth Management. “The latest round of trade tariffs (the universal 10% tax on all imports into the U.S., and additional country-specific taxes) appears to include all artworks, though the categorization is inconsistent. It’s unlikely the complexities of art production and sale have been fully considered in current policymaking.”
There’s also the question of whether non-traditional art forms are covered by the HTS definition. “Categories with crossover appeal, like functional art, design pieces, or limited-edition works may find themselves navigating a grayer area,” noted Katrina Aleksa, art advisor and co-founder of the Association of Women in the Arts. Industry figures also noted that there may be problems categorizing digital and performance art.
Edouard Gouin, CEO and co-founder of art shipping firm Convelio, posits that there is a “70% chance that no tariffs will be applied to artworks.” In a note to clients shared with Artsy, Gouin put forward three primary reasons for this.
First, art is a “niche market, not a political target.” Unlike other industries that carry “significant economic or political leverage,” artworks are “not a priority,” like other sectors where “a lack of tariffs directly disadvantages American companies.” Second, the E.U., which “places significant importance on protecting the arts” has “strong negotiating power and will prioritize shielding its cultural sector.” The 27-country bloc, he noted, “is likely to push for exemptions.” Third, tariffs on artworks would be “self-inflicted damage for U.S. businesses.” Unlike other industries, such as automobile manufacturing, where production can be domesticated, “the art market deals in unique goods that originate from anywhere.” He added: “Tariffs on art would disproportionately hurt American art businesses more than any other country as it would restrict their ability to source the very inventory they rely on for sales.”
China, on the other hand, is not mentioned by Gouin, though he said he believes the country “will be targeted.”
Still, Gouin pointed out, there is a risk that art could be used as a “bargaining chip” in negotiations as talks progress. This could drive “collectors to buy abroad and store in freeports, ultimately benefiting storage companies outside the U.S.”
Indeed, as other countries negotiate with the U.S. following the 90-day pause, there is a chance that art becomes embroiled. The U.K., for example, published a list of U.S. products that could be targeted in retaliatory tariffs on April 3rd. This included “paintings, e.g. oil paintings, watercolors and pastels, and drawings executed entirely by hand” and “original sculptures.”
Meanwhile, as China and the U.S. inflict countermeasures on each other, previously exempted industries have been added to the list of goods being tariffed, such as films. As tensions rise, this could extend to explicitly include artworks.
Another important note: Tariffs—should they apply—are based on an artwork’s country of origin, or where it was produced. The artist’s nationality and the country from which the artwork was shipped may not necessarily affect the tariff applied.
Overall, the picture is one of uncertainty. “Art is a global business, and the biggest issue for the art market right now is that a lot remains unknown,” said Adam Baldwin, founder of London and Miami gallery Baldwin. “Markets don’t like uncertainty, but the impact of these tariffs, set against the broader macroeconomic environment in general, has, and continues to, create confusion.”
What other effects are the tariffs likely to have on the art market?

The Stock Market ceremony, Tokyo, 1961
William Klein
Polka Galerie
While the tariffs themselves have complicated matters in the art trade, the impact that Trump’s policies have had on the stock markets and global economy is also likely to have far-reaching implications until the matter is settled. Stocks, for instance, plummeted worldwide on the initial news of tariffs before rallying after Trump announced the pause less than a week later, illustrating the choppy economic waters. “Stock market volatility can influence decision-making across the art world—not just in collecting, but in how galleries, institutions, and artists allocate resources and plan ahead,” said Donovan.
The current economic volatility has led to substantial fluctuations in the spending power of the superrich. Bloomberg’s Billionaires’ Index showed a $208 billion decline in the combined wealth of the world’s 500 richest people on April 3rd, following the announcement of the tariffs—the largest one-day decline since the onset of the COVID-19 pandemic (it has since rallied following news of the pause). Fluctuations of this severity are likely to affect the sentiment among wealthy art collectors who may hold off on purchases until the volatility subsides or take longer to make sure they are not falling foul of any logistical changes. “In this environment, diligence is the new luxury. Savvy collectors and dealers are treating logistics with the same care they’d give to provenance,” noted Aleksa.
In the industry, international galleries are weighing their plans related to the U.S., as was the case when the first round of tariffs were proposed last month. Galleries based in the U.S., meanwhile, continue to consider the potential difficulties of showing and selling work by artists who are based in affected countries. “Even when artworks escape direct taxation, the surrounding ecosystem does not,” said Aleksa. “Elevated shipping costs, tighter customs scrutiny, and an air of economic uncertainty are all casting a longer shadow over international art transactions.”
There is also the logistical burden faced by galleries struggling to keep up with policies that are changing at such a rapid pace. Baldwin noted that his gallery is seeing “significant knock-on effects” when it comes to “ancillary services” such as paperwork and shipping, as well as customs. “Confusion seems rife,” he said. “Never in living memory have shippers and logistics teams been more crucial to the business.”
But the art market has shown remarkable resilience in such fraught moments before, from lockdowns to financial crises. Conversations with collectors, dealers, and art professionals reveal a collaborative and open-minded approach to the current situation. “The art market is no stranger to uncertainty and has consistently shown its ability to adapt,” said Donovan. His advice? “Stay informed, remain flexible, and plan conservatively.”