The United States will soon slap a 100% tariff on all foreign-made films, President Donald Trump announced on Truth Social on Monday.
In his post, Trump claimed that America’s film industry had been “stolen” by overseas players. “Our movie making business has been stolen from the United States of America, by other countries, just like stealing ‘candy from a baby’,” he wrote.
“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,” Trump posted, ending his post with his “Make America Great Again” slogan.
Trump had first floated the idea of such steep tariffs back in May, but at the time, he had not shared specifics, leaving Hollywood studios and streaming platforms uncertain about what it would mean for their business.
Following the announcement, shares of entertainment giants showed a dip in premarket trading — Netflix fell 1.4%, while Warner Bros Discovery slipped 0.6%, as per a Reuters report.
