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Art Market Struggles Amid Tariffs and Economic Downturn

5/19/2025

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Summary

Story summary

The art market is grappling with significant hurdles, as US tariffs and economic downturns cast a shadow over its future. Clare McAndrew’s Art Market Report reveals that while artworks are exempt from Trump's tariffs, the UK is still reeling from post-Brexit import VAT and customs delays, causing it to fall behind France in the competitive landscape.

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Story summary

The art market is grappling with significant hurdles, as US tariffs and economic downturns cast a shadow over its future. Clare McAndrew’s Art Market Report reveals that while artworks are exempt from Trump's tariffs, the UK is still reeling from post-Brexit import VAT and customs delays, causing it to fall behind France in the competitive landscape.