Trump Trade: U.S. to impose 100% tariff on foreign-made movies

Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly:

TARIFFS ON MOVIES: President Donald Trump stated in a post to Truth Social, “Our movie making business has been stolen from the United States of America, by other Countries, just like stealing ‘candy from a baby.’ California, with its weak and incompetent Governor, has been particularly hard hit! Therefore, in order to solve this long time, never ending problem, I will be imposing a 100% Tariff on any and all movies that are made outside of the United States. Thank you for your attention to this matter. MAKE AMERICA GREAT AGAIN! President DJT” Publicly traded owners of film studios include Comcast (CMCSA), Disney (DIS), Sony (SONY), Warner Bros. Discovery (WBD), Lionsgate Studios (LION), Paramount Skydance (PSKY), and Netflix (NFLX).

TARIFFS ON ELECTRONICS: The Trump administration is weighing slapping tariffs on foreign electronic devices based on the number of chips in each device, Reuters’ Alexandra Alper reports, citing three people familiar with the matter. According to the plan, the Commerce Department intends to impose a duty on the imported product that is equal to the percentage of the estimated value of the chip content of the device, the author notes. Publicly traded companies in the space include Sony (SONY), Nintendo (NTDOY), Samsung (SSNLF), Asustek (ASUUY), Panasonic (PCRFY), TSMC (TSM), and Foxconn (HNHPF).

TARIFFS ON FURNITURE: President Donald Trump stated in a post to Truth Social, “In order to make North Carolina, which has completely lost its furniture business to China, and other Countries, GREAT again, I will be imposing substantial Tariffs on any Country that does not make its furniture in the United States. Details to follow!!!” Retailers of furniture and home goods include Arhaus (ARHS), Ethan Allen (ETD), RH (RH), Wayfair (W), Williams-Sonoma (WSM), Target (TGT), Walmart (WMT) and Amazon (AMZN).