United States Trade Representative Exempts Chapter 97 “Works of Art, Collectors Pieces and Antiques” from List 3 of the Section 301 Tariffs introduced by Presidential Proclamation to impose a 25% duty rate for items of Chinese Origin.
GDLSK was instrumental in getting Chapter 97 of the Harmonized Tariff Schedule to the United States removed from the United States Trade Representative third list of tariff classifications created to impose a 25% tariff on such items of Chinese origin. Omitted from the list is Chapter 97.
With the art market being a multi-billion dollar industry, the potential adverse effect of such tariff could cripple many in the trade. The resulting outcome will permit the open exchange of art and antiquities originating from China in and through the United States. The current market for China origin works of art is robust and produces annual sales, both private and public, worth hundreds of millions of dollars.
For more information about this new development, contact James McAndrew, Forensic Specialist, at 212-973-7706 or via email at [email protected].
