Trump announces 100% tariffs for movies produced outside US
Since returning to the White House in January, Donald Trump has triggered a trade war with China and imposed global tariffs that have unsettled markets.
On Monday, 5th May, US President Donald Trump announced a 100% tariff on films produced overseas, saying the movie industry in the US is "dying a very fast death."
He stated that other countries are offering all sorts of incentives to draw filmmakers and studios away from the United States leaving Hollywood devastated.
He authorised the Department of Commerce and the United States Trade Representative, to immediately begin the process of instituting a 100% Tariff on any and all movies coming into the country that are produced in foreign lands.
It remains unclear whether the tariff would target production companies, foreign or American, producing films overseas.
This move comes nearly a month after China said it would "moderately reduce" the number of US films it imported into the country, amid a trade war between the world's two largest economies.
On April 10, China's film administration issued a statement saying that the US government's "indiscriminate tariffs on China" were likely to further damage the perception of American films among Chinese audiences, following Trump's decision to raise tariffs on Chinese goods to 125%.
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