'Hollywood is dying'; Trump to impose 100 percent tax on foreign-made films, including movies

 

Washington: President Donald Trump has said that other countries are undermining Hollywood and using movies as a propaganda tool, and that he will impose a 100 percent tariff on all foreign-made films. Trump made the announcement in a post on Truth Social. Trump said that the American film industry is rapidly dying. Other countries are offering all kinds of incentives to keep our filmmakers and studios out of the United States.

Hollywood and many other sectors of the USA are collapsing. This is a coordinated effort by other countries and a threat to national security. Movies are being used as propaganda against the United States. Trump also stated that he will instruct the Commerce Department and the United States Trade Representative to immediately begin the process of imposing a 100 percent tariff on all films produced in foreign countries and released in the United States.

The USTR said that restrictions and high taxes could be detrimental to US film producers. Many international cities have come forward with generous tax breaks to attract film and TV productions. In response, California Governor Gavin Newsom has promised tax breaks to revive Hollywood production. Meanwhile, movie ticket sales in the US have fallen as viewers have increasingly switched to home streaming platforms since the pandemic.