Geri
US President Donald Trump has added a new one to customs duties. Trump reported that he authorised the Department of Commerce and the US Trade Representative to impose a 100% tariff on all films produced in foreign countries and coming to the country, and announced this news on the Truth Social account. After the announcement, the shares of US media companies fell. Emphasising that the US film industry is swiftly disappearing, President Trump said, ‘Hollywood and many regions within the United States are being devastated.’ Stating that foreign countries offer all kinds of incentives to drive away film producers and studios, Donald Trump stated that the film industry policies of foreign countries are deliberate, ‘This is a joint effort of other nations and therefore a National Security threat. This is messaging and propaganda in addition to everything else.’ While it remains obscure how this decision on global productions will be implemented, it is thought that this situation could increase production budgets and disrupt the global supply chain. In recent years, major media companies such as Walt Disney, Netflix, and Universal Pictures have favoured other states and countries with favourable incentives, such as Canada and the UK, for filming, which is thought to have influenced President Trump's new tariff decision on the film industry. With this verdict, Trump intends to make sure that films are made in America again and to sift the propensity of film companies to foreign countries.
