New York: President Donald Trump is eyeing Hollywood for his next round of tariffs, threatening to levy all films produced outside the US at a steep rate of 100%.
Over the weekend, Trump accused other countries of “stealing the movie-making capabilities” of the US and said that he had authorised the Commerce
Department and the US Trade Representative to immediately begin the process of implementing this new import tax on all foreign-made films. But further specifics or dates weren’t provided
And the White House confirmed that no final decisions had been made as of Monday.
Trump later said that he would meet with industry executives about the proposal but a lot remains unclear about how an import tax on complex, international productions could even be implemented.
If imposed, experts warn that such a tariff would dramatically hike the costs of making movies today.