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Films Shot Outside U.S. Will Face 100% Tariff As Trump Claims Movie Industry Is ‘Dying’
By: bitcoin ethereum news|2025/05/05 18:15:01
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Topline President Donald Trump said he has ordered his administration’s trade officials to impose a 100% tariff on all films produced abroad—alleging Hollywood studios were moving productions out of the U.S. to benefit from financial incentives offered by some countries. Trump has ordered that foreign produced films should be hit with a 100% tariff. Key Facts In a post on his Truth Social platform, the president claimed the “Movie Industry in America is DYING a very fast death,” as other countries were offering “all sorts of incentives” to draw “our filmmakers and studios away from the United States.” Trump claimed this purported exodus was leaving Hollywood and “many other areas within the U.S.A...devastated.” The president also claimed, without evidence, that this was a “concerted effort” by foreign countries to bring their “messaging and propaganda” into the U.S. and therefore a “National Security threat.” Trump said he has authorized the Commerce Department and the U.S. Trade Representative to “immediately begin the process of instituting a 100% Tariff on any and all Movies coming into our Country that are produced in Foreign Lands.” Trump ended his post saying, “WE WANT MOVIES MADE IN AMERICA, AGAIN!” Get Forbes Breaking News Text Alerts: We’re launching text message alerts so you’ll always know the biggest stories shaping the day’s headlines. Text “Alerts” to (201) 335-0739 or sign up here . How Has The Tariff Announcement Impacted Major Film Studios’ Stocks? Shares of several major Hollywood giants slumped in premarket trading early on Monday. Shares of streaming giant Netflix, which produces its content all around the world, were among the worst hit, as they dropped nearly 3.4% to $1,117 in early trading. Warner Bros. Discovery’s shares fell to $8.29, down 2.93% from Friday’s close, while Disney’s shares dropped 1.74% to $90.88. Shares of Comcast, which owns Universal, fell by 1.19% to $34.05. Source: https://www.forbes.com/sites/siladityaray/2025/05/05/trump-says-films-shot-outside-us-will-face-100-tariff-hollywood-stocks-drop-in-premarket/
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