Trump's Tariff Plan Threatens Hollywood's Global Ties
(MENAFN) United States Leader Donald Trump’s suggestion to impose a 100 percent tariff on films produced abroad could severely disrupt Hollywood’s dependence on international collaborations and slash profits that significantly rely on worldwide viewers, a media expert explained to a news agency.
Trump revealed his plan on Truth Social, declaring the intention is to revive what he called a declining American film sector, stating: “Hollywood is being destroyed” by foreign nations.
Later, while speaking to journalists at the White House, he confirmed the proposed tariffs would apply to movies made outside the United States.
The news triggered a decline in the stock values of major Hollywood players, such as Netflix and Warner Bros. Discovery. Movie theater companies like Cinemark and IMAX also experienced financial setbacks.
The details of the proposed policy remain uncertain.
Analysts note that the intricate nature of film creation and international distribution chains, often involving numerous countries, would pose serious challenges to effective implementation of such tariffs.
Amid industry backlash, Trump adopted a more conciliatory approach, indicating he would confer with studio leaders to “make sure they’re happy with it because we’re all about jobs.”
The global film business, already weakened by the COVID-19 crisis and recent labor unrest in the US, is now generating fewer films annually than film-producing powerhouses such as India, China, and Japan, based on available data.
At the same time, international film industries have surpassed Hollywood in production scale.
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