1h ago
15.19
CEST
Trump
says US to impose 100% tariff on movies made outside the country
The
United States will impose a 100% tariff on all foreign-made movies, Donald
Trump has said in a post on Truth Social this morning, an unprecedented move
that threatens to upend Hollywood’s global business model.
The step
signals Trump’s willingness to extend protectionist trade policies into
cultural industries, raising uncertainty for studios that depend heavily on
international box-office revenue and cross-border co-productions.
“Our
movie making business has been stolen from the United States of America, by
other Countries, just like stealing ‘candy from a baby’,” he wrote.
It was
not immediately clear what legal authority Trump would use to impose a 100%
tariff on foreign-made films. White House did not immediately respond to a
Reuters request for comment on how the tariffs would be implemented. Warner
Bros Discovery, Comcast, Paramount Skydance and Netflix also did not
immediately respond to requests.
Shares of
Netflix were down 1.5% in early trading.
The
president had threatened to impose such levies earlier in May but offered very
few details, leading to confusion among entertainment industry executives about
whether it would apply to specific countries or all imports.
Studio
executives told Reuters earlier this year that they were “flummoxed” by how a
movie tariff might be enforced, given that modern films often use production,
financing, post-production and visual effects spread across multiple countries.
The move
has drawn skepticism from legal and trade analysts. Some argue films are a form
of intellectual property and part of the global trade in services, an area
where the US often runs a surplus, raising questions about the legal basis for
tariffs.
Co-productions
with foreign studios have also become more common, adding to doubts about how
such films would be classified.
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