US EditionTrump’s tariffs threaten to become his Achilles’ heel
- President Donald Trump announced plans to impose a 100% tariff on movies produced outside the United States to protect domestic film production.
- This proposal responds to concerns that foreign incentives have drawn filmmakers and studios away, contributing to a 26% drop in U.S. Production since 2021.
- American movies generated $22.6 billion in exports and maintained a $15.3 billion trade surplus in 2023 despite challenges from increased foreign film production and subsidies abroad.
- Trump expressed concern that other countries have been taking over the film production expertise traditionally held by the United States, highlighting his commitment to revitalizing Hollywood.
- If enacted, the tariffs could raise costs for foreign productions and threaten film industries globally, with local leaders in places like Berkshire warning of significant economic disruption.
83 Articles
83 Articles
How will Trump's film tariffs impact Korean entertainment industry?
After U.S. President Donald Trump announced plans to impose a 100 percent tariff on all movies produced in foreign lands on May 4, aiming to revive "dying" Hollywood and save American jobs, the Korean entertainment industry is on a high alert over what challenges this possible move might bring to the K-content industry, which has been enjoying emerging global prominence through tie-ups with Netflix, Disney+ and major Hollywood studios. Trump, ev…
Obscure Court Is Set to Decide Fate of Trump’s Tariffs
“The Trump administration’s global tariffs face their first major legal test this week when a little-known Manhattan court considers one of the president’s most sweeping assertions of executive power,” the Wall Street Journal reports. “A three-judge panel at the Court of International Trade will hear arguments Tuesday on whether to halt the levies, which have unleashed a trade war with the world and threaten to upend the global economy.” “The fe…
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