Trump slaps 100% tariff on foreign films

News Image

By MG News | May 05, 2025 at 09:28 AM GMT+05:00

0:00

May 05, 2025 (MLN): In a dramatic escalation of his global trade disputes, U.S. President Donald Trump has announced plans to slap a 100% tariff on movies produced in foreign countries.

He claims the move aims to revive America’s struggling film industry and countering what he calls foreign “propaganda.”

Trump made the announcement via Truth Social, saying he had directed the U.S. Trade Representative to initiate the process of imposing the steep tariff.

He accused other nations of deliberately undercutting Hollywood by offering aggressive incentives to attract film productions, calling the practice a “national security threat.”

“It’s not just about money—it’s about messaging and influence,” Trump stated. “WE WANT MOVIES MADE IN AMERICA, AGAIN!”

U.S. Commerce Secretary Howard Lutnick confirmed the administration was moving swiftly in response to Trump’s directive, stating, “We’re on it.” However, key details remain unclear, including whether the tariff will also impact American film studios shooting abroad.

In recent years, several major Hollywood productions—such as Deadpool & Wolverine, Wicked, and Gladiator II—have been filmed overseas, lured by cost advantages and local subsidies.

Since reclaiming the presidency in January, Trump has aggressively reimposed tariffs on numerous countries, insisting they will protect domestic industries and bring jobs back to U.S. soil. However, economists warn these measures are fueling global market instability and pushing up consumer prices worldwide.

Earlier this year, Trump appointed actors Jon Voight, Mel Gibson, and Sylvester Stallone as Special Envoys to promote investment in Hollywood.

He described the U.S. film industry as “great but troubled,” pledging to restore its dominance.

Despite ongoing challenges, the U.S. remains a leading player in global film production. A recent report by industry tracker ProdPro revealed $14.54 billion in production spending in the U.S. last year, although that figure marked a 26% decline from 2022.

In contrast, countries like Canada, Australia, New Zealand, and the UK have seen a surge in film investments.

The latest announcement comes amid growing international backlash to Trump’s trade approach. In April, China reduced the number of American films allowed in its cinemas, citing the U.S.’s “abuse of tariffs” as a key factor.

China’s film regulator stated the decision was a response to U.S. actions and hinted at declining public interest in American content.

Copyright Mettis Link News

 

Related News

Name Price/Vol %Chg/NChg
KSE100 125,627.31
258.99M
1.00%
1248.25
ALLSHR 78,584.71
1,142.41M
1.16%
904.89
KSE30 38,153.79
69.25M
0.63%
238.06
KMI30 184,886.50
91.38M
0.01%
13.72
KMIALLSHR 53,763.81
554.57M
0.54%
290.61
BKTi 31,921.68
33.15M
1.78%
557.94
OGTi 27,773.98
9.65M
-0.40%
-112.21
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 107,835.00 108,105.00
107,505.00
-400.00
-0.37%
BRENT CRUDE 66.47 66.63
66.46
-0.27
-0.40%
RICHARDS BAY COAL MONTHLY 97.00 97.00
97.00
1.05
1.09%
ROTTERDAM COAL MONTHLY 107.65 107.65
105.85
1.25
1.17%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 64.84 65.02
64.82
-0.27
-0.41%
SUGAR #11 WORLD 16.19 16.74
16.14
-0.52
-3.11%

Chart of the Day


Latest News
July 01, 2025 at 06:00 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


June 30, 2025 at 11:55 PM GMT+05:00

TRG: Dominos Tumbling for the Management



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg