Wednesday, September 19, 2018
Chinese Art and Antiques Saved from Tariffs
The Trump Administration has abandoned plans to place up to 25% tariffs on Chinese art, antiques and historical coins. The office of US Trade Representative was evidently swayed by arguments that collateral damage to US small businesses and cultural exchange with our allies in the United Kingdom, the EU and Asia, particularly Japan from tariffs outweighed any benefits. If anything, such tariffs would play into Chinese Government efforts to redirect Chinese art back to China for the benefit of wealthy collectors and auction houses associated with the Chinese government. Now, if only the State Department would rethink the proposed renewal of the cultural property MOU with China, which raises many of the same issues.