President Trump has expressed concerns about Hollywood's future, stating it is facing rapid decline amid increasing competition from foreign markets. He attributes this to countries luring U.S. filmmakers with incentives, prompting him to announce plans for a 100 percent tariff on foreign films. During a social media announcement, he framed this as a national security issue. Trump's initiative comes as Hollywood has also been hindered by pandemic fallout and recent industry strikes, despite reportedly generating $30 billion in revenue in 2024.
President Trump stated that Hollywood is experiencing a 'very fast death' due to foreign competition, prompting him to propose a 100 percent tariff on foreign films.
Trump highlighted that the U.S. film industry is suffering due to incentives offered by other countries, labeling it a 'National Security threat'.
In his social media post, Trump remarked that 'if they are not willing to make a movie inside the United States, we should have a tariff on movies that come in'.
He announced the appointment of actors like Sylvester Stallone and Jon Voight as ambassadors to help restore lost business to Hollywood.
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