WASHINGTON, May 6. /TASS/. US President Donald Trump's intention to impose tariffs on imported films could lead to retaliatory actions from other countries and jeopardize the bulk of Hollywood revenues, the Axios portal reported.
"The [US] Administration is exploring all options to deliver on President Trump's directive to safeguard our country's national and economic security while Making Hollywood Great Again," White House spokesperson Kush Desai told Axious.
According to the Motion Picture Association (MPA), American film exports are three times higher than imports, and more than half of studio box office revenues come from foreign markets. Due to the uncertainty of the criteria and wording of Trump's tariff initiative, film studios may pause filming and production abroad. Streaming services such as Netflix, which distribute foreign content within the United States, are also at risk, the portal explains.
On May 4, Trump promised to impose a 100% tariff on all films shot outside the United States. The US President wrote on the Truth Social network that "the movie industry in America is dying a very fast death," while other countries are "offering all sorts of incentives to draw our filmmakers and studios away from the United States.".