President Donald Trump said he has ordered his administration’s trade officials to impose a 100% tariff on all films produced abroad—alleging Hollywood studios were moving productions out of the U.S. to benefit from financial incentives offered by some countries.
Read the full stories on Forbes: https://www.forbes.com/sites/siladityaray/2025/05/05/trump-says-films-shot-outside-us-will-face-100-tariff-hollywood-stocks-drop-in-premarket/
https://www.forbes.com/sites/dereksaul/2025/05/05/netflix-suffers-20-billion-loss-as-trump-wields-100-movie-tariffs/
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Read the full stories on Forbes: https://www.forbes.com/sites/siladityaray/2025/05/05/trump-says-films-shot-outside-us-will-face-100-tariff-hollywood-stocks-drop-in-premarket/
https://www.forbes.com/sites/dereksaul/2025/05/05/netflix-suffers-20-billion-loss-as-trump-wields-100-movie-tariffs/
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NewsTranscript
00:00President Donald Trump said he has ordered his administration's trade officials to impose
00:05a 100% tariff on all films produced abroad, alleging Hollywood studios were moving productions
00:11out of the U.S. to benefit from financial incentives offered by some countries.
00:17In a post on his Truth Social platform, the president claimed the movie industry in America
00:22is dying a very fast death, as other countries were offering all sorts of incentives to draw
00:27our filmmakers and studios away from the United States.
00:32The president also claimed, without evidence, that this was a concerted effort by foreign
00:36countries to bring their messaging and propaganda into the U.S., and therefore a national security threat.
00:44Trump said he has authorized the Commerce Department and the U.S. Trade Representative to quote
00:48"...immediately begin the process of instituting a 100% tariff on any and all movies coming into
00:54our country that are produced in foreign lands."
00:58Since the announcement on Sunday, Netflix, the most valuable pure entertainment company
01:02in the world, suffered a $20.4 billion loss in market capitalization on Monday.
01:09It is unclear how tariffs will be determined for films shooting in multiple locations.
01:14Several upcoming summer blockbusters like Mission Impossible The Final Reckoning and the
01:18John Wick spinoff Ballerina have been shot abroad.
01:22In the case of movies like Mission Impossible and Captain America, key plot elements are set
01:27in certain foreign locations, so financial incentives may not be the only reason these films are
01:32being shot abroad.
01:34Unlike goods, on which officials collect duties when entering U.S. ports, movies are services
01:40with a more complicated tariff structure.
01:43Henning Malfenter, the former head of the German Babelsberg Studio, with producer credits on The
01:48Pianist and Captain America Civil War, told The Hollywood Reporter, quote,
01:53"...is it just movies or also streaming series?
01:57Is it visual effects, co-productions, international film financing?
02:01There's a huge degree of uncertainty."
02:04Trump addressed the issue after returning to the White House from his Mar-a-Lago resort.
02:09Speaking to reporters, Trump took aim at California Governor Gavin Newsom, saying, quote,
02:13"...I've done some very strong research over the past week, and we're making very few movies now.
02:19Hollywood is being destroyed.
02:21Now, you have a grossly incompetent governor that allowed that to happen.
02:25So I'm not just blaming other nations, but other nations have stolen our movie industry."
02:30For more on these stories, check out Psyllidati Array and Derek Saul's articles linked in the description.