Hollywood is shaken by Trump바카라 게임 웹사이트s tariff plan for the movie industry
Filmmakers and Hollywood financiers are baffled by President Trump바카라 게임 웹사이트s announcement that he produced outside the United States.
Video above: President Trump changes plans on auto tariffs to help domestic automakers
Several movie studio and streaming industry executives who spoke with CNN are upset because, they believe, the president hasn바카라 게임 웹사이트t thought about the ramifications of his proposal, which could decimate an iconic industry.
Other sources are taking a more open-minded view, asserting that Trump is instigating a dialogue about a real issue 바카라 게임 웹사이트 so-called 바카라 게임 웹사이트runaway production바카라 게임 웹사이트 바카라 게임 웹사이트 that could be addressed any number of ways.
바카라 게임 웹사이트On first blush, it바카라 게임 웹사이트s shocking and would represent a virtually complete halt of production,바카라 게임 웹사이트 one industry insider remarked. 바카라 게임 웹사이트But in reality, he has no jurisdiction to do this and it바카라 게임 웹사이트s too complex to enforce.바카라 게임 웹사이트
Shares of Netflix and other major entertainment companies fell Monday as investors digested Trump바카라 게임 웹사이트s confusing comments.
바카라 게임 웹사이트Last night바카라 게임 웹사이트s from President Trump has everyone in Hollywood scratching their heads,바카라 게임 웹사이트 Lightshed Ventures partner Rich Greenfield said in an analyst note.
Some of the industry sources who spoke with CNN doubt that any such tariff plan will actually be implemented. As intellectual property, movies are a form of services 바카라 게임 웹사이트 not goods. Services are not ordinarily subject to tariffs, and it바카라 게임 웹사이트s unclear how Trump바카라 게임 웹사이트s tariffs on foreign movies would work.
Furthermore, Trump바카라 게임 웹사이트s assertion that foreign film production constitutes a 바카라 게임 웹사이트national security threat바카라 게임 웹사이트 may not withstand legal scrutiny.
But entertainment industry leaders are taking the possibility seriously. Multiple executives have reached out to Commerce Secretary Howard Lutnick about the tariff proposal, according to two sources familiar with the discussions. Lutnick to Trump바카라 게임 웹사이트s tariff demand Sunday night, saying, 바카라 게임 웹사이트We바카라 게임 웹사이트re on it.바카라 게임 웹사이트
Trump바카라 게임 웹사이트s social media post may have been just an opening gambit. In the Oval Office Monday, Trump said he would hold meetings with Hollywood executives before making a final decision.
바카라 게임 웹사이트We바카라 게임 웹사이트re going to meet with the industry; I want to make sure they바카라 게임 웹사이트re happy about it,바카라 게임 웹사이트 Trump said.
On Monday a White House spokesperson, Kush Desai, said, 바카라 게임 웹사이트while no final decisions on foreign film tariffs have been made, the Administration is exploring all options to deliver on President Trump바카라 게임 웹사이트s directive to safeguard our country바카라 게임 웹사이트s national and economic security while Making Hollywood Great Again.바카라 게임 웹사이트
The White House바카라 게임 웹사이트s reference to 바카라 게임 웹사이트all options바카라 게임 웹사이트 may calm some nerves, since Hollywood lobbyists have been pushing for carrots (like a federal tax incentives for films) rather than sticks (like a tariff) for some time now.
Shifting away from Hollywood
Movie and television production, once centered in and around Hollywood, has gravitated to other U.S. states and increasingly to other countries owing to tax incentives and other financial calculations.
A wide array of movies, from 바카라 게임 웹사이트low-budget indies to studio blockbusters,바카라 게임 웹사이트 are 바카라 게임 웹사이트currently being made in countries like the U.K., France, Germany, and Hungary,바카라 게임 웹사이트 the entertainment trade magazine Variety noted on Monday while conveying 바카라 게임 웹사이트shock and disbelief across the European film industry.바카라 게임 웹사이트
Trump made the idea sound simple when he spoke with reporters at the White House Sunday night.
바카라 게임 웹사이트Other nations have been stealing the movies, the moviemaking capabilities, from the United States,바카라 게임 웹사이트 he said, apparently referring to the growing number of movies that are produced in other countries like Canada.
바카라 게임 웹사이트We should have a tariff on movies that come in,바카라 게임 웹사이트 Trump said, possibly referring to movies that are financed and distributed by American companies but filmed elsewhere.
The Motion Picture Association of America, the organization representing major US studios, declined to comment on Trump바카라 게임 웹사이트s announcement. But the MPA released a report in 2023 showing the US film industry runs a $15.3 billion trade surplus with foreign markets, amounting to three times the value of films that are imported. However, it바카라 게임 웹사이트s not clear if the MPA included domestic films that were produced abroad.
How would it work?
The questions about Trump바카라 게임 웹사이트s movie tariffs are voluminous. Will movies made by American companies but set in other countries 바카라 게임 웹사이트 say, a World War II historical drama 바카라 게임 웹사이트 be taxed for filming in the places where they바카라 게임 웹사이트re set?
What about movies that are produced partly in the United States and partly in other places?
바카라 게임 웹사이트In its current form, the tariff doesn바카라 게임 웹사이트t make sense,바카라 게임 웹사이트 said Jay Sures, vice chairman of United Talent Agency. 바카라 게임 웹사이트How do you enforce it?바카라 게임 웹사이트 how do you measure foreign services? If two minutes of the movie is shot overseas does that deserve to be taxed?바카라 게임 웹사이트
Sures noted that it can be significantly cheaper to make movies abroad, so tariffs could hurt more than they help.
Some of the industry executives wondered aloud if Trump바카라 게임 웹사이트s idea was about punishing Canada, where many films are now made due to tax incentives.
One of the sources asked, speaking of left-leaning Hollywood, 바카라 게임 웹사이트Is he trolling us because we didn바카라 게임 웹사이트t vote for him?바카라 게임 웹사이트
And one executive asked if Trump had any real sense of how modern TV and movie production works: 바카라 게임 웹사이트Has anyone told him what this will do to James Bond, Harry Potter, Dune? Where are we supposed to shoot Emily in Paris?바카라 게임 웹사이트
CNN바카라 게임 웹사이트s Kate Irby contributed to this report.