Trump plans 100% tariff on movies produced outside U.S
The post Trump plans 100% tariff on movies produced outside U.S appeared on BitcoinEthereumNews.com. President Donald Trump said that his administration will impose a 100% tariff on “any and all movies coming into our country that are produced in foreign lands. ” On Sunday, in a post on his TruthSocial, the president wrote that “Other Countries are offering all sorts of incentives to draw our filmmakers and studios away from the United States,”. He called the practice “a concerted effort by other Nations and, therefore, a National Security threat.” Source: TruthSocial He said he has instructed the Department of Commerce and the United States Trade Representative to begin the tariff process immediately. The statement offered no clear definition of produced in foreign lands, which could mean anything from anime to Hollywood blockbusters partly shot abroad. For instance, Marvel Studios’ upcoming “Thunderbolts” is filmed mainly in the United States but partly in Malaysia. Motion pictures complicate Trump’s tariff model. Tariffs have been a hallmark of Trump’s trade agenda, but so far, they have targeted physical goods that can be inspected at ports. Although films still arrive on Blu-ray discs, a growing share is streamed. How officials would collect a 100% levy on a Netflix or Disney+ stream remained unanswered Sunday. The New York Times recently reported that filming overseas can cut jobs for American crews. California Governor Gavin Newsom is pushing to raise state tax credits to keep productions at home. Trump, though, often dismisses direct subsidies. Last year, he called a Biden-era incentive program for semiconductor plants “ridiculous.” The tariff plan is part of a broader effort to reshape Hollywood’s political landscape. Soon after taking office, Trump named actors Mel Gibson, Jon Voight, and Sylvester Stallone “special ambassadors” to the film industry. Federal Communications Commission chair Brendan Carr later opened an inquiry into Disney’s diversity rules, which include targets for writers and actors from…
The post Trump plans 100% tariff on movies produced outside U.S appeared on BitcoinEthereumNews.com.
President Donald Trump said that his administration will impose a 100% tariff on “any and all movies coming into our country that are produced in foreign lands. ” On Sunday, in a post on his TruthSocial, the president wrote that “Other Countries are offering all sorts of incentives to draw our filmmakers and studios away from the United States,”. He called the practice “a concerted effort by other Nations and, therefore, a National Security threat.” Source: TruthSocial He said he has instructed the Department of Commerce and the United States Trade Representative to begin the tariff process immediately. The statement offered no clear definition of produced in foreign lands, which could mean anything from anime to Hollywood blockbusters partly shot abroad. For instance, Marvel Studios’ upcoming “Thunderbolts” is filmed mainly in the United States but partly in Malaysia. Motion pictures complicate Trump’s tariff model. Tariffs have been a hallmark of Trump’s trade agenda, but so far, they have targeted physical goods that can be inspected at ports. Although films still arrive on Blu-ray discs, a growing share is streamed. How officials would collect a 100% levy on a Netflix or Disney+ stream remained unanswered Sunday. The New York Times recently reported that filming overseas can cut jobs for American crews. California Governor Gavin Newsom is pushing to raise state tax credits to keep productions at home. Trump, though, often dismisses direct subsidies. Last year, he called a Biden-era incentive program for semiconductor plants “ridiculous.” The tariff plan is part of a broader effort to reshape Hollywood’s political landscape. Soon after taking office, Trump named actors Mel Gibson, Jon Voight, and Sylvester Stallone “special ambassadors” to the film industry. Federal Communications Commission chair Brendan Carr later opened an inquiry into Disney’s diversity rules, which include targets for writers and actors from…
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