"Donald Trump on Monday renewed his threat of imposing steep tariffs on films made outside the United States, claiming his country's industry has been stolen by others. Trump's remarks come shortly after he threatened a slew of new tariffs to be imposed this week on branded pharmaceutical products, furniture, as well as heavy trucks respectively. On Monday, Trump returned his focus to the film industry,"
"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 wrote. He did not provide further details on his plans, or a timeline for when these tariffs might be enacted. Trump's latest post echoes a threat he made in May, when he said the US movie industry was dying a very fast death."
"Hollywood is a major sector of the US economy, generating more than 2.3m jobs and $279bn in sales in 2022, according to data from the Motion Picture Association. But in the wake of the Hollywood strikes and the Covid pandemic which changed how Americans consumed movies, opting to watch at home instead of in theaters the industry has been struggling to regain momentum, industry insiders have said."
A proposal threatens to impose a 100% tariff on all films produced outside the United States, asserting that foreign competition has taken business from the domestic industry. The proposal also accuses California's governor, Gavin Newsom, of weakness and says the state has been heavily impacted. No implementation details or timeline have been provided. The proposal echoes an earlier May threat to begin a 100% tariff process through trade agencies. Separate tariff threats of 25%–100% were also announced for branded pharmaceuticals, kitchen cabinets, upholstered furniture and heavy trucks. Hollywood generated more than 2.3 million jobs and $279 billion in 2022 and has faced pandemic and strike-related headwinds.
Read at www.theguardian.com
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