Trump wants to impose tariffs on films produced outside the US

US President Donald Trump announced that he would impose a 100 percent tariff on all films produced outside the United States.

He announced the initiative in a post on the Truth Social platform, explaining that the American film industry was losing market share to foreign competition.

No details about the legal basis or implementation of these tariffs are known yet. There has been no reaction from major film studios and streaming services so far. Following the announcement, Netflix shares fell 1.5 percent.

Trump had already hinted at a similar plan in May of this year, but without providing specific details on the scope or mechanism of the tariffs.

Legal and economic sources expressed doubts to Reuters about the feasibility of the plan. Films are complex products that are often co-produced by several countries and are part of the global trade in services.

Trump also said he would soon announce details of tariffs on furniture imports, after announcing import tariffs of up to 50 percent last week.

(reuters, sie)