As he intensifies trade fights with countries worldwide, Donald Trump declares he will impose 100% taxes on films produced abroad. The US president says the film industry in the US is dying “a very fast death” and gives the Department of Commerce and Trade Representative permission to begin imposing the levy.
He characterised a “national security threat” posed by a “concerted effort” by foreign nations that provide incentives to draw in studios and filmmakers. One union cautioned that his comments may deal a “knock-out blow” to the sector, where producers have long fled Hollywood for cheaper locations like the UK and Canada.
On his Truth Social platform, Trump stated: “It is propaganda and messaging on top of everything else! In response to the statement, US Commerce Secretary Howard Lutnick stated, “We’re on it”.
However, the specifics are not obvious. Trump’s announcement did not clarify whether the levy would apply to American production firms making films overseas. Deadpool & Wolverine, Wicked, and Gladiator II are just a few of the recent blockbusters from US studios filmed abroad.
Furthermore, it was unclear how the tariffs would be determined and if they would apply to films that were screened in theatres and those that were available on streaming sites like Netflix. Timothy Richards, the founder of the European movie theatre company Vue, asked Trump what he would consider a US film.
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