Tefaf New York returns to the Park Avenue Armory with 91 exhibitors from four continents, presenting 7,000 years of art amid uncertainty caused by President Donald Trump's recently announced tariff regime. The fair's director, Leanne Jagtiani, sent a letter to exhibitors acknowledging the "significant impacts" on the industry, assuring them of close communication with shippers and legal advisers, and advocating for the exclusion of artworks from potential EU reciprocal tariffs. While artworks are understood to be exempt, antiques and contemporary works in unconventional materials may be subject to the new tariffs, creating confusion among dealers and collectors.
This edition of Tefaf New York matters because it serves as the first major test of how Trump's tariffs will affect the New York art and antiques market during an already difficult period. The fair's international scope and range of price points make it a bellwether for market sentiment, with exhibitors both hopeful and cautious about collector response. The outcome could signal broader trends for the art trade, as the market historically lags behind economic shifts but also recovers quickly. The presence of 13 new galleries and high-value antiquities underscores the determination to maintain business despite geopolitical instability.