President Donald Trump on Monday announced on Truth Social that the United States will soon impose 100% tariffs on all foreign -made films. In his post, Trump claimed that the US film industry was “stolen” by foreign players. He wrote that our film production business has been stolen from America by other countries, just as ‘baby to candy’ steal. Trump had put the idea of putting so much tariff in May for the first time, but at that time he did not share any special information about it, which was uncertain about the Hollywood studio and streaming platforms about what the impact it would have on their business.
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Trump had put the idea of putting so much tariff in May for the first time, but at that time he did not share any special information about it, which was uncertain about the Hollywood studio and streaming platforms about what the impact it would have on their business.Following this announcement, the shares of entertainment legendary companies saw a decline in market -east trading – Netflix declined by 1.4%, while Warner Brothers Discovery declined by 0.6%.