Overview

• Trump said on Sept. 29 via Truth Social that he will impose a 100% tariff on any movies made outside the United States, offering no timeline or scope.
• The White House has not explained the legal basis or mechanism, and trade experts note films are typically treated as services or intellectual property rather than goods.
• Studio executives warn enforcement is complex because modern productions span financing, shooting, post‑production and visual effects across multiple countries, with open questions about co‑productions and streaming.
• Entertainment stocks reacted, with Netflix down about 1% to 1.5% in early trading and Warner Bros. Discovery slipping, reflecting concern over potential fallout.
• The announcement extends a broader tariff drive that includes duties on branded pharmaceuticals, heavy trucks, kitchen cabinets and vanities, and upholstered furniture, with Trump also signaling additional furniture measures.