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.
Israel’s position that phase two of the Gaza ceasefire cannot begin without the final hostage being returned is intended to pressure Hamas rather th...
More than 2.6 million Afghans have returned from Iran and Pakistan since the start of 2025, deepening what the United Nations Children’s Fund (UNICE...
Time Magazine has chosen the creators behind artificial intelligence as its 2025 Person of the Year, highlighting the technology’s sweeping impact o...
Iran is preparing to host a multilateral regional meeting next week in a bid to mediate between Afghanistan and Pakistan....
Azerbaijan has been elected as a member of the United Nations Commission on Population and Development and the Commission for Social Development....
More than 2.6 million Afghans have returned from Iran and Pakistan since the start of 2025, deepening what the United Nations Children’s Fund (UNICEF) describes as one of the world’s most urgent humanitarian crises.
Iran is preparing to host a multilateral regional meeting next week in a bid to mediate between Afghanistan and Pakistan.
Baku and Budapest strengthen diplomatic relations as Azerbaijan’s Foreign Minister, Jeyhun Bayramov, began a working visit to Hungary on, Wednesday, 10 December.
The Asian Development Bank (ADB) has revised its outlook for the economies of Central Asia and the Caucasus by raising its growth forecast for 2026
Scores of demonstrators gathered outside the Norwegian Nobel Institute in Oslo Tuesday (9 December) to protest against the awarding of this year’s Nobel Peace Prize to Venezuelan opposition leader Maria Corina Machado.
Iran and Saudi Arabia reiterated their commitment to enhance ties following a joint meeting with China in Tehran on Tuesday to follow up on implementation of the 2023 Beijing Agreement which resulted in resumption of their diplomatic relations after eight years.
The world’s leading minds and voices will be honoured on Wednesday, 10 December, the anniversary of Alfred Nobel’s death, as Nobel Prizes are presented in Stockholm and Oslo.
In a dramatic Champions League clash at Baku’s Tofiq Bahramov Stadium, Qarabağ grabbed an early lead, but Ajax staged a thrilling comeback to win 4-2.
Iran's President Massoud Pezeshkian has begun a two day visit to Kazakhstan, with officials from both sides describing the trip as an opportunity to advance cooperation in trade, transport, industry, mining and cultural exchanges.
More than 2.6 million Afghans have returned from Iran and Pakistan since the start of 2025, deepening what the United Nations Children’s Fund (UNICEF) describes as one of the world’s most urgent humanitarian crises.
Ukraine has handed the United States a revised 20-point peace proposal aimed at ending the war with Russia, a Ukrainian official said on Thursday, 11 December.
Putin’s visit to India has put the spotlight on New Delhi’s evolving defence strategy as it seeks to modernise Russian-made systems with domestic production. At the same time, India is carefully navigating its ties with the U.S. and Europe ahead of key diplomatic visits.
Former French President Nicolas Sarkozy has released his book, "Diary of a Prisoner" ("Le Journal d’un Prisonnier"), on his time in jail following his conviction. .
U.S. President Donald Trump has formally launched a scheme offering fast-tracked U.S. visas to foreigners who can pay at least $1 million — or companies willing to spend $2 million to sponsor a worker they want to bring into the country.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment