Trump declares tariffs to shield American film industry
The President of the US, Donald Trump, announced on Sunday that he would "immediately begin the process of instituting 100 percent tariffs" on films produced abroad. He justified this decision by highlighting the need to protect the domestic film industry, which he believes is being "devastated" due to foreign competition.
"The Movie Industry in America is DYING a very fast death. Other Countries are offering all sorts of incentives to draw our filmmakers and studios away from the United States," Trump wrote on the platform Truth Social.
He emphasised that "This is a concerted effort by other Nations and, therefore, a National Security threat. It is, in addition to everything else, messaging and propaganda!" noted the US president.
When queried about his post by reporters, Trump asserted that foreign countries "stole the American film industry" by attracting film production with subsidies. He added that the tariffs would rectify the mistakes of his predecessors, who allowed this to happen.
Record profits for the American film industry
According to various business publications, the American film and entertainment industry remains a significant market, generating revenue of $29.9 billion (€26.4 billion) in 2023, with projections to grow to $47.7 billion (€42.1 billion) by 2030.
However, available data do not provide a precise determination of the trade balance regarding film import and export.
