US president claims that Hollywood is undergoing a ‘very fast death’ despite raking in $30bn in revenues in 2024.United States President Donald Trump has announced plans to impose a 100 percent tariff on foreign films, claiming that Hollywood is undergoing a “very fast death” due to overseas competition.
In a social media post on Sunday, Trump said he had directed the US Department of Commerce and the US Trade Representative to immediately begin the process of imposing the tariff on “any and all” films produced in “foreign lands”.
“Other Countries are offering all sorts of incentives to draw our filmmakers and studios away from the United States. Hollywood, and many other areas within the U.S.A., are being devastated,” Trump said on his Truth Social platform.
“This is a concerted effort by other Nations and, therefore, a National Security threat. It is, in addition to everything else, messaging and propaganda!”
Asked by reporters about the tariff later on Sunday, Trump claimed that the US was making “very few movies now”.
“Other nations, a lot of them, have stolen our movie industry,” he said. “If they are not willing to make a movie inside the United States, we should have a tariff on movies that come in.” Advertiseme …
