US President Donald Trump is planning to impose a 100 percent tariff on foreign films. “To solve a long-standing problem, I will impose a 100 percent tariff on any film made outside the United States,” he wrote in a recent post. However, he did not give any details on when the tariff would take effect or how it would be implemented.
\nTrump made a similar threat in May this year. At that time, he said that the US film industry was “very rapidly heading towards death.” At that time, he instructed the Commerce Department and the US Trade Representative to begin the process of imposing a 100 percent tariff.
\nThe impact on the film industry is still unclear. Hollywood is a major sector of the US economy, generating $2.9 trillion (\u00a3279 billion) in sales in 2022 and creating more than 2.3 million jobs, according to the Motion Picture Association.
\nBut the industry is struggling to recover as audiences are watching movies at home instead of in theaters due to the Hollywood strike and the COVID pandemic.
\nTrump did not mention television series in his post, which are becoming more profitable and popular by the day.
\nLast Thursday, Trump said he would impose tariffs of 25 to 100 percent on branded pharmaceutical products, kitchen cabinets, furniture and heavy trucks.
\nHe added that these would take effect next Wednesday. If no other company sets up manufacturing plants in the United States, the 100 percent tariff on pharmaceuticals will be imposed.
\nTrump also reiterated the issue of imported furniture. He said that North Carolina has “completely lost its furniture industry to China and other countries.”<\/p>\n","protected":false},"excerpt":{"rendered":"
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