President Trump took to Truth Social to announce that he has demanded the Commerce Department and U.S. Trade Representative place a 100% tariff on foreign made movies.
After Trump’s announcement, California Governor Gavin Newsom proposed tax credits to encourage movie production in Hollywood.
Trump wrote: “The Movie Industry in America is DYING a very fast death. Other Countries are offering all sorts of incentives to draw our filmmakers and studios away from the United States. Therefore, I am authorizing 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 our Country that are produced in Foreign Lands. WE WANT MOVIES MADE IN AMERICA, AGAIN!”
Domestic film production has declined in recent years due to tax breaks offered by foreign governments to U.S. producers filming outside of Hollywood.
“Hollywood, and many other areas within the U.S.A., are being devastated. This is a concerted effort by other Nations and, therefore, a National Security threat. It is, in addition to everything else, messaging and propaganda!” Trump wrote.
Experts are uncertain about how a tariff of this nature would be implemented.
By CEO NA Editorial Staff
