Trump wages (tariff) war on Hollywood
Donald Trump announced on TruthSocial the immediate launch of a process to impose a 100% tax on all foreign-produced films entering the US.
President Donald Trump extended his trade war to the cinema.Trump, in an evening post on his social media platform Truth Social, said he has instructed the Commerce Department and US Trade Representative to place a 100% tariff on films that are produced outside the US and imported into America.
According to him, the American film industry is in decline, saying, «WE WANT MOVIES MADE IN AMERICA, AGAIN!».
The president justified his request to the Commerce Department and the US Trade Representative, asking them to deal with the issue without delay, claiming that he believes it poses a threat to national security.
Donald Trump’s statements, describing the offshoring of Hollywood productions as a threat to national security, are aimed in particular at cities like Dublin in Ireland, but are also a major new attack against Canada.
Production centers like Montreal and Toronto have been attracting U.S. studios for years, thanks to generous tax credits available to foreign film and TV productions.
According to CNN, the imposition of 100% tariffs on films produced abroad is likely to further complicate the situation for Hollywood studios, since a significant proportion of American productions are made outside the USA.
Reducing production and labor costs by shooting overseas has become all the more crucial for Hollywood since the pandemic, which dealt a heavy blow to theatrical revenues.