Produce your films in the U.S., or it will cost you dearly. That is Donald Trump's message to the film industry as he declared his intention to introduce a 100% tariff on all movies produced outside of the United States. According to Trump, the step is needed to safeguard American filmmaking.
On Truth Social, the president wrote:
"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."
Reactions were immediate. Warner, Netflix, and Paramount stocks dropped sharply as investors awaited clarification on how such tariffs would even be implemented, if they have any legal basis at all, and whether the president can act without congressional approval.