Amid uncertainty over Trump’s tariffs, many collectors pause purchases while others ‘hold their noses and pay’

US President Donald Trump's proposed tariff regime for around 60 countries has created uncertainty in the art and antiques markets. Dealers and collectors are grappling with questions about whether art, antiques, and decorative objects are exempt, and how import duties might affect pricing and attendance at US art fairs. Margo Thoma of Tai Modern in Santa Fe reports that a 24% tariff on Japanese goods would likely have prevented two out of four recent sales. Steven J. Chait of Ralph M. Chait Galleries notes that while top-tier collectors may accept higher prices for extraordinary objects, the middle market may balk. Art adviser Todd Levin warns that newer, younger collectors could be most affected, and dealer Eric Zetterquist has canceled his spring buying trip to Asia due to economic uncertainty.