Over the weekend, President Trump announced on Truth Social that he would begin the process of enacting 100% tariffs on all movies that are produced outside of the U.S. Speaking from the Oval Office today, Trump added that the U.S. film industry has been “decimated by other countries.”
Trump Proposes 100% Tariff on Foreign Films
In addition, Trump noted that he would meet with film industry officials to make sure that they are “happy” with the tariff idea.
In a statement released today, the White House clarified that it has yet to make a decision on the foreign film tariffs. At the same time, the Trump Administration is still exploring all options to protect the interests of the U.S. film industry.
As a result, many movie-related and streaming stocks, such as Netflix (NFLX) and AMC Entertainment (AMC), have reacted negatively to the news.
