U.S. President Donald Trump announced on Sunday that he is issuing an order to impose a 100% tariff on all films produced outside the United States, claiming that Hollywood has been devastated by the trend of American filmmakers and studios working abroad.
It remains unclear what impact this move will have on the film industry or how exactly the tariffs will be applied.
“I have authorized the Department of Commerce and the United States Trade Representative to immediately begin the process of implementing a 100% tariff on all films imported into our country that are produced overseas,” Trump wrote on his platform, Truth Social.
“The film industry in America is dying a very fast death. Other countries are offering all kinds of incentives to lure our filmmakers and studios away from the United States,” he wrote.
“Hollywood and many other sectors in the U.S. are being decimated,” he added, claiming that this trend amounts to a national security threat.
Trump did not mention television series, which have become an increasingly popular and profitable sector of the entertainment industry.