US Edition
Trump’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 encourage domestic production.
- Trump’s tariff proposal responds to his concern about foreign incentives drawing filmmakers abroad amid a 26% decline in U.S. Production last year.
- Countries such as China and New Zealand have expanded their local film production, with China’s animated hit Ne Zha 2 earning over $2 billion at the box office, while New Zealand has attracted major U.S. Film projects benefiting from NZ$200 million in government subsidies.
- Trump announced that if films are not produced domestically, the U.S. Should impose tariffs on imported movies, and he has directed relevant agencies to begin implementing these duties.
- The tariff risks harming international film hubs such as Berkshire, UK, and could escalate challenges for the U.S. Industry by intensifying competition for productions.
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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