New US import duties on prints, photos, et al starting October 18th, 2019
From cheese to wine and whisky, hundreds of shipments from Europe are set to more duties as they enter the US. The Office of the US Trade Representative announced October 2nd 2019 it would levy tariffs of between 10% and 25% on aircraft, food, industrial products and certain forms of art from the European Union on October 18, 2019. The tariffs raise prices for American businesses and consumers.
The move came after the World Trade Organization authorized the US to impose punitive tariffs on $7.5 billion worth of products from the bloc, its largest ever arbitration award ever given. The two sides have been locked in a dispute over aircraft for more than a decade and a half, separately claiming that the EU-based Airbus and the US-based Boeing are illicitly aided by government funds.
What does this mean for US buyers of art and EU sellers of art:
Q:
Which art related products are subject to these additional US import duties of 25% ?
A:
This is the list of art related products as provided by the Office of the United States Trade Representative. (You can find the full list off all products here)
4901.10.00 - Printed books, brochures, leaflets and similar printed matter in single sheets, wether or not folded.
4911.91.20 - Lithographs on paper or paperboard, not over 0.51 mm in thickness, printed not over 20 years at time of importation
4911.91.30 - Lithographs on paper or paperboard, over 0.51 mm in thickness, printed not over 20 years at time of importation
4911.91.40 - Pictures, designs and photographs, excluding lithographs on paper or paperboard, printed not over 20 years at time of importation
Q:
Are the additional US import duties of 25% subject to purchases from all EU-countries ?
A:
Purchases of the art related products from only Germany and the United Kingdom are subject to additional US import duties of 25%.
Purchases of the art related products from the other EU-countries are NOT subject to additional US import duties of 25% and conduct business as usual.
Q:
Do the new US import duties effect purchases at/via New Art Editions ?
A:
All purchases by US clients made at and invoiced directly by New Art Editions are NOT subject to these additional US import duties of 25%. For we are located in The Netherlands we conduct business as usual.
Purchases of the art related products by US clients made directly at one of our featured UK or German partners are subject to additional US import duties of 25%.
More coverage about this subject:
- ArtNews
- Artsy
