Trump Slaps 100% Tariff On Foreign-Made Movies
Trump, justifying the steep levy, said the US' movie-making business is getting "stolen" by other countries.
US President Donald Trump on Monday said he is slapping a 100% tariff on foreign-made movies, in a move aimed at saving the film-making business of the United States.
Trump, justifying the steep levy, said the US' movie-making business is getting "stolen" by other countries.
"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 (sic)," Trump said in a post on social media platform Truth Social.
With this in mind, Trump in January had tapped Hollywood icons Jon Voight, Sylvester Stallone, and Mel Gibson to revive the industry and make it “bigger, better, and stronger than ever.”
For years, film and TV production has been drifting away from Hollywood, with nearly half of US producers’ spending on big-budget projects of over $40 million flowing overseas by 2023, according to ProdPro.
Meanwhile, Los Angeles, long considered Hollywood’s heart, has seen production decline of nearly 40% over the past decade, FilmLA data shows. A recent ProdPro survey of industry executives ranked California only sixth in filming preference for the next two years, trailing Toronto, Britain, Vancouver, Central Europe, and Australia.
Trump has also said that he will be imposing substantial tariffs on furniture that is not made in the US. He in his post on Truth Social said that this will be in order to make North Carolina great again. Further explaining this he said North Carolina has lost its furniture business to China and other countries.
