US President Donald Trump announced that all films produced outside the United States will be subject to a 100% tariff. The statement was made via the Truth Social platform on Monday.
This is not the first time that the proposed tariff has been raised. In May, Trump threatened to impose a similar measure but failed to detail how, causing confusion among entertainment industry leaders.
Stock markets reacted immediately to the announcement. Netflix shares fell 1.4% while Warner Bros Discovery fell 0.6% in premarket trading.
The latest move is expected to have a major impact on the global entertainment industry, especially international film production companies that rely on the US market
