Trump launches tariffs… on movies

Donald Trump announced on TruthSocial the immediate launch of a process to impose a 100% tax on all foreign-produced films entering the US.

In his opinion, the American film industry is in decline, and he insists: “WE WANT MOVIES MADE IN AMERICA, AGAIN!”.

The President justified his request to the Department of Commerce and the US Trade Representative, asking them to deal with the issue without delay, claiming that it constitutes, in his opinion, a threat to national security.

Donald Trump’s statements, describing the offshoring of Hollywood productions as a threat to national security, are aimed not only at cities like Dublin in Ireland, but also Canada.

Production centers like Montreal and Toronto have been attracting U.S. studios for years, thanks to generous tax credits for foreign film and TV productions.

According to CNN, the imposition of 100% tariffs on foreign-produced films is likely to further complicate the situation for Hollywood studios, given that a significant proportion of American productions are made outside the USA.

Reducing production and labor costs by shooting abroad has become all the more crucial for Hollywood since the pandemic, which dealt a heavy blow to theatrical revenues. What are gonna be the effects on this new decision on Hollywood? We shall see.