Trump’s tariffs threaten to become his Achilles’ heel
- President Donald Trump announced plans to impose a 100% tariff on films produced outside the United States to protect domestic movie production.
- Trump’s tariffs respond to concerns about the decline of U.S. Film production and foreign countries offering incentives to attract filmmakers abroad.
- U.S. Movie exports generated $22.6 billion in 2023, while foreign productions and subsidies, such as $1.3 billion in New Zealand films and $200 million in subsidies, highlight international industry competition.
- Trump announced on Truth Social that if films are not produced domestically, the U.S. Should impose tariffs on foreign-made movies to protect national and economic interests.
- These tariffs could increase costs for foreign productions and risk harming international film industries, prompting political concerns and campaigns to protect local film sectors like Berkshire in the UK.
81 Articles
81 Articles
How will Trump's film tariffs impact Korean entertainment industry?
After U.S. President Donald Trump announced plans to impose a 100 percent tariff on all movies produced in foreign lands on May 4, aiming to revive "dying" Hollywood and save American jobs, the Korean entertainment industry is on a high alert over what challenges this possible move might bring to the K-content industry, which has been enjoying emerging global prominence through tie-ups with Netflix, Disney+ and major Hollywood studios. Trump, ev…
Obscure Court Is Set to Decide Fate of Trump’s Tariffs
“The Trump administration’s global tariffs face their first major legal test this week when a little-known Manhattan court considers one of the president’s most sweeping assertions of executive power,” the Wall Street Journal reports. “A three-judge panel at the Court of International Trade will hear arguments Tuesday on whether to halt the levies, which have unleashed a trade war with the world and threaten to upend the global economy.” “The fe…
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