President Trump has said the U.S. will impose a 100% tariff on all movies made outside the U.S. in his latest effort to boost domestic production.
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“Our movie making business has been stolen from the United States of America, by other Countries, just like stealing ‘candy from a baby,'” Trump said in a Truth Social post, adding “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.”
Film and TV Stocks Mixed on Trump’s Latest Tariff Threat
Trump made a similar threat in May, noting that the issue presented a threat to national security. At the time, industry experts told Reuters that the move could complicate production and financing efforts given that they usually span multiple countries. It isn’t immediately clear when Trump plans on enacting the tariff or if he has the legal power to do so, as films are a service rather than a good.
Film and television stocks are mixed on Trump’s new threat, with AMC (AMC) and Netflix (NFLX) trading higher and Warner Bros. Discovery (WBD) and Paramount Skydance (PSKY) in the red.
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