Movies

Trump announces 100% tariffs on movies made overseas

BBG News

In an effort to increase domestic film production, President Trump declared on Sunday that he will impose a 100% tax on foreign-produced movies shown in the United States.

Over the past 25 years or so, significant film production companies have been moving their projects to less expensive nations such as Canada, the UK, Bulgaria, New Zealand, and Australia. These countries provide attractive tax incentives to boost their domestic economies, thereby drawing films away from traditional Hollywood locations.

Hollywood Inc.

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Behind the stunning job losses in Hollywood: ‘The audience has moved on’

Following labor disputes among artists and scriptwriters last year, the recovery of Los Angeles’ entertainment industry has been slow due to a decrease in filming activities, job opportunities, and ticket sales at the box office.

The relocation of well-compensated positions is now a significant concern for Los Angeles, as it has experienced a substantial decrease in film production and related employment opportunities over the past few years.

Due to closures caused by the COVID-19 pandemic, labor disputes, and downsizing by established entertainment firms who invested too much in creating streaming platforms to rival Netflix, the industry is still struggling to bounce back to its previous strength.

Trump announced on his Truth Social platform Sunday evening that he has given the authority to both the Department of Commerce and the United States Trade Representative to initiate the steps for imposing a 100% tax on any foreign-produced films entering our country. His aim is to encourage movie production within the U.S. again.

Information regarding the specifics of the plans, including if taxes would apply to American firms operating abroad, was not yet disclosed at the time.

Movie executives on Sunday showed confusion as they pondered over the question of how a tax could potentially be applied to a movie, much like a car, that is assembled from parts manufactured in various nations, with final editing and production processes typically taking place in the United States.

The Motion Picture Assn. wasn’t immediately available for comment.

Trump lamented how the “Movie Industry in America is DYING a very fast death.”

The president stated that certain nations have been providing enticing offers to lure our movie makers and production studios outside of the U.S.

Trump stated, “Hollywood, along with various parts of the United States, are suffering greatly.” He added that this destruction appears to be an organized effort from foreign countries, making it a matter of national security.

Hollywood Inc.

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Trump named Gibson, Stallone and Voight as ‘special ambassadors.’ Hollywood is still waiting for a call

Many in Hollywood continue to anticipate the unveiling of Trump’s ‘special envoys” specific strategies aimed at increasing American film and TV productions.

Following Trump’s appointment of Jon Voight, Sylvester Stallone, and Mel Gibson as his representatives in the film industry, there has been a request for increased U.S. production. In January, Trump announced this project, characterizing Hollywood as a place that is both remarkable yet troubled.

At that moment, I found myself deeply moved by the words of our esteemed president. He expressed his intention to work alongside his ambassadors, aiming to revitalize Hollywood in a way that surpasses all previous glories – not just larger and more impressive, but also significantly improved in quality, making it stronger than ever before!

However, these representatives have maintained a low key approach since their assignment, and it seems that numerous figures in Hollywood haven’t received any communication from them.

Toward the end of last month, it was reported by Bloomberg News that Voight and his representative, Steven Paul, were planning to propose strategies to boost U.S. manufacturing to Trump. These proposals included suggesting certain national benefits to encourage the return of overseas businesses.

Paul stated in his interview with Bloomberg that it’s crucial for us to keep pace with global developments, which suggests a need for some form of federal tax breaks.

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2025-05-05 04:04

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