President Donald Trump said that he plans to impose a 100% tariff on any movies produced outside of the United States. He made the announcement in a Truth Social post on Monday.
Trump did not provide specifics on when or how the tariff would be implemented. If enacted, this would be the first time the U.S. imposes a tariff on a service rather than a tangible product.
This move follows an initial proposal made in May, where Trump argued that foreign tax incentives have led filmmakers to produce movies abroad, thereby impacting the U.S. film industry. He particularly mentioned California, which he claimed has been “hard hit” by this trend.
Hollywood was caught off guard by Trump’s earlier plan, with some industry insiders expressing concern over the practical challenges of enforcement.
While many American actors and directors prefer to work domestically, industry experts argue that it is more cost-effective for Hollywood studios to shoot films overseas due to lower labour costs and tax rebates available in other countries.
Trump’s announcement caused a drop of 1% in Netflix’s stock price, while shares of companies such as AMC and The Walt Disney Company saw an uptick. The U.S. box office has faced challenges in recent years, with consumer preferences shifting towards streaming platforms, especially since the pandemic, leading to a significant decline in movie theatre revenues.
In addition to the movie tax hike, the Trump administration is preparing to impose various other tariffs, including a 100% levy on branded pharmaceutical products, a 25% tariff on heavy trucks, a 50% hike on kitchen cabinets and vanities, and a 30% tariff on upholstered furniture. Trump also indicated plans to introduce a "substantial" tariff on all furniture imports into the U.S.
Ukraine’s President Volodymyr Zelenskyy has approved new sanctions targeting Russian maritime operators, defence-linked companies and individuals co...
The chief executive of Google DeepMind, Demis Hassabis, has called for more urgent research into the potential dangers posed by artificial intelligenc...
Divers have recovered the bodies of seven Chinese tourists and a Russian driver after their minibus broke through the ice of Lake Baikal in Russia, au...
Iran announced on Saturday that it has designated the naval and air forces of European Union member states as “terrorist entities” in a reciprocal...
A technical fault in the helium system of NASA’s next-generation moon rocket was announced on Saturday, ruling out the planned March launch window f...
Ukraine’s President Volodymyr Zelenskyy has approved new sanctions targeting Russian maritime operators, defence-linked companies and individuals connected to Moscow’s military and energy sectors, according to official decrees issued on Saturday.
The chief executive of Google DeepMind, Demis Hassabis, has called for more urgent research into the potential dangers posed by artificial intelligence, warning that stronger safeguards are needed as systems become more advanced.
Divers have recovered the bodies of seven Chinese tourists and a Russian driver after their minibus broke through the ice of Lake Baikal in Russia, authorities said.
Iran announced on Saturday that it has designated the naval and air forces of European Union member states as “terrorist entities” in a reciprocal move after the EU blacklisted the Islamic Revolutionary Guard Corps (IRGC).
Quentin Griffiths, co-founder of online fashion retailer ASOS, has died in Pattaya, Thailand, after falling from the 17th floor of a condominium on 9 February, Thai police confirmed.
Ukraine’s National Paralympic Committee has announced it will boycott the opening ceremony of the Milano Cortina 2026 Paralympics in Verona on 6 March, citing the International Paralympic Committee’s decision to allow some Russian and Belarusian athletes to compete under their national flags.
Eric Dane, the actor best known for his roles in 'Grey’s Anatomy' and 'Euphoria', died on Thursday, at the age of 53 after a battle with amyotrophic lateral sclerosis (ALS). His family confirmed his death after what they described as a “courageous battle” with ALS.
An Austrian climber has been convicted of gross negligent manslaughter after his girlfriend died from hypothermia while climbing Austria’s highest peak, the Grossglockner, in January 2025.
President Donald Trump said on Saturday (21 February) that he will raise temporary tariffs on nearly all U.S. imports from 10% to 15%, the maximum allowed under the law, after the Supreme Court struck down his previous tariff program.
Ukraine’s President Volodymyr Zelenskyy has approved new sanctions targeting Russian maritime operators, defence-linked companies and individuals connected to Moscow’s military and energy sectors, according to official decrees issued on Saturday.
Divers have recovered the bodies of seven Chinese tourists and a Russian driver after their minibus broke through the ice of Lake Baikal in Russia, authorities said.
A technical fault in the helium system of NASA’s next-generation moon rocket was announced on Saturday, ruling out the planned March launch window for the Artemis II mission.
President Donald Trump said on Saturday (21 February) that he will raise temporary tariffs on nearly all U.S. imports from 10% to 15%, the maximum allowed under the law, after the Supreme Court struck down his previous tariff program.
Germany's ruling conservatives on Saturday (21 February) passed a motion to ban social media use for under 14s and introduce more stringent digital verification checks for teenagers, building momentum for such limits in Germany and elsewhere in Europe.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment