Audio By Carbonatix
President Donald Trump said in a Truth Social post on Monday that he will be imposing a 100% tariff “on any and all movies that are made outside of the United States.”
Trump did not specify when or how the tariff could be enacted.
If Trump follows through with his threat, it would mark the first time he’s essentially imposed a tariff on a service rather than a raw good.
The president initially threatened a 100% tariff on foreign-produced movies in May, arguing that other countries offer tax incentives that have drawn filmmakers abroad. In his post on Monday, he singled out California, saying the state “has been particularly hard hit!”
Hollywood was completely caught off guard when Trump first previewed the tariff in May. “On first blush, it’s shocking and would represent a virtually complete halt of production,” one industry insider told CNN at the time. “But in reality, he has no jurisdiction to do this, and it’s too complex to enforce.”
American actors and directors generally prefer to work close to home. But “the fact is, it’s cheaper for Hollywood studios to pay for everyone to get on planes, pay for hotels, because the cost of labour, lack of rebates and the ability to make things overseas is infinitely cheaper,” Jay Sures, vice chairman of United Talent Agency, told CNN in May.
Latest Stories
-
Ato Forson says Big Push contractors not owed despite spending GH¢6.5bn of GH¢30bn allocation
10 minutes -
Sammy Gyamfi rebuts Abena Osei-Asare’s claims linking GoldBod to BoG losses
32 minutes -
Government will take back GHS58 million spent on Black Stars when FIFA pays World Cup appearance fee – Finance Minister
43 minutes -
Veep joins Sister Cities’ 70th anniversary in Washington, calls for stronger Africa partnerships
49 minutes -
Why Rogers and Palmer will thrive together in Alonso’s Chelsea
54 minutes -
Tech titan ordered to pay ex-wife $644m in divorce settlement
54 minutes -
They became best friends – then discovered they were brother and sister
54 minutes -
Experts challenge culture of silence among men on mental health
56 minutes -
How is it a crime if US$279m is allocated to Gold Board? – Sammy Gyamfi questions Abena Osei-Asare
1 hour -
UniMAC Debate champions meet Vice-Chancellor ahead of commonwealth debate competition in sydney
1 hour -
UK retail sales get surprise boost from hot weather and World Cup
1 hour -
Star US Supreme Court lawyer Goldstein to be sentenced for tax crimes
1 hour -
Inconvenient Truth: When the Elephants Forget the Grass
1 hour -
No rift with Agriculture Ministry over funds release — Ato Forson
1 hour -
Culture before internal communication plan: Why Africa needs the ACCRA framework
1 hour